Nethu matha mkts greenla irundhuchu. Innaikku yellame karadi kitta maatikichu.
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Nethu matha mkts greenla irundhuchu. Innaikku yellame karadi kitta maatikichu.
Sensex now below 9000 mark. :D
BEARS DOMINATE THE MARKET
June 13, 2006
SENSEX-> 9062.65 (413.50 points, 4.36)%.
BSE100-> 4608.31 (228.78 points, 4.73)%.
BSE500-> 3468.68 (184.65 points, 5.05)%.
BSEPSU-> 4405.30 (160.79 points, 3.52)%.
BSEMIDCAP-> 3844.91 (259.06 points, 6.31)%.
BSESMLCAP-> 4668.10 (301.19 points, 6.06)%.
BSEBANKEX-> 4079.83 (169.47 points, 3.99)%.
NIFTY-> 2663.30 (4.09%).
June 13, 2006
SENSEX:
Day's High: 9360.06
Day's low: 8993.58
A dubious world record for the Sensex
Over the last two weeks, India has become the top loser among major stock market groupings in the world. The domestic market was one of the top ten losers just two weeks ago.
Sustained selling has seen the Sensex and Nifty fall more than any other major non-sectoral index in the world during the global correction that set in by around May 10.
According to data with the Business Standard Research Bureau, since May 23, when the stock markets around the world got a temporary reprieve, the Sensex and Nifty have overtaken the national stock barometers of Egypt, Russia, Turkey, Argentina, Brazil and Austria to top the losers' list in percentage terms since May 10.
As of Tuesday, domestic markets are the biggest losers not only in Asia, but among emerging markets in general and of course, the developed markets.
Domestic markets have overtaken even Russian market, which had seen nearly double the run-up during the year-long bull run.
While Russia's Moscow Times, which had surged nearly 170 per cent in a year as against the Sensex's 96 per cent, has fallen only by around 22.6 per cent since May 10, the Sensex has lost nearly a quarter of its value.
"Reasons for Indian sell-off have more to do with liquidity concerns than apprehensions of the negative impact that an economic slow down may have on our exports," said Abheek Barua, chief economist for India with ABN Amro Bank NV.
While fresh hawkish voices on US interest rates overnight led to one of the biggest selloffs in export-dependent economies of South Korea and Japan on Tuesday, Indian indices to witnessed a sharp four per cent decline on Tuesday.
"Even though the correction has been very steep, I don't think we are through with it yet," Barua said. "The global markets had factored in a pause from the US interest rate hikes in June. Till that question is settled, volatility will continue in India," he said.
He said unfavourable balance of trade, which has caused the value of the rupee to be dependent on foreign investment flows, and the prospect of rising interest rates in Europe, Japan and the US constraining the availability of funds for overseas investment are likely to be major drivers for continued negative sentiments on India.
JUNE 14, 2006
BEAR RUN CONTINUES.
SENSEX-> 8929.44 (133.21 points, 1.47%).
BSE100-> 4535.00 points, 73.31 -1.59%).
BSE500-> 3404.14 (64.54 points, 1.86%).
BSEPSU-> 4381.49 (23.81 points, 0.54%).
BSEMIDCAP-> 3721.20 (123.71 points, 3.22%).
BSESMLCAP-> 4502.63 (165.47 points, 3.54%).
BSEBANKEX-> 4017.18 (62.65 points, 1.54%).
NIFTY-> 2632.80 (1.15%).
June 14, 2006
SENSEX:
Day's High: 9387.06
Day's low: 8799.01
Mutual funds: What's hot, what's not
Mutual funds predominantly bought auto, FMCG, media, and telecom stocks in May. Metal, and power stocks weighed heavy on their sell list, while stocks were re-aligned in the banking, chemical, cement, oil and gas pack. They bought huge chunks of FMCG heavyweight ITC, while diluted exposure to IDFC.
MFs also participated in the IPO party with Reliance Petroleum, Kamdhenu Ispat, and Plethico Pharmaceuticals being the most bought ones. In terms of value, Reliance Industries, SBI, and ITC were the top purchases by MFs, while L&T, Century Textiles, and Ranbaxy topped the sell list.
A study of the top ten mutual funds' equity portfolios, accounting for 74 per cent of the total assets managed by the fund industry as on May 31, which are UTI, Prudential ICICI, HDFC, Templeton, Reliance, SBI, Birla SunLife, Kotak, DSP ML, and HSBC reveals that nine out of the ten MFs added to their investments in the FMCG heavyweight ITC. Pru ICICI MF was the top buyer of the stock with almost 25 lakh shares bought. However, Birla MF pared exposure to the stock. Among other FMCG stocks, Eveready Industries, and Hindustan Lever were among the top 100 buys, while Emami, Dabur, and P&G were among the top sells.
IDFC, the top sell, was sold extensively by Templeton MF with over 81 lakh shares sold. SBI MF also off-loaded the stock, while Reliance and Birla MF made fresh investments in it. Among other banking stocks, BoB, Andhra Bank, SBI, IDBI, and Allahabad Bank topped the buy list, while IFCI, Centurion Bank of Punjab, Syndicate Bank, Vijaya Bank, and BoI were among the top sells.
Among the IPOs that listed in May, mutual funds bought over 43 lakh shares of Reliance Petroleum, with SBI MF being the top buyer as it bought over 31 lakh shares. HDFC, Pru ICICI, and UTI MF also invested in the Reliance Petroleum IPO. Kotak, and Pru ICICI MF invested heavily in Kamdhenu Ispat with a total of over 22 lakh shares bought. Pru ICICI, HSBC, and UTI MF invested in Plethico Pharmaceuticals IPO with over 10 lakh shares bought.
Oil and gas major Reliance Industries, the top bought stock in terms of value, was bought by seven out of 10 mutual funds. UTI MF was the top buyer with over 27 lakh shares bought. Other oil and gas stocks HPCL, and Chennai Petroleum also attracted MFs, while BPCL, and ONGC were among the top sells.
Auto stocks Ashok Leyland, M&M, Hero Honda, TVS Motor, and Tata Motors were among the top buys, while Munjal Auto, Sona Koyo, and Gabriel India were sold. Media stocks Zee, INOX Leisure, PVR, Shringar Cinemas, and Deccan Chronicle were bought, while Jagran Prakashan, and Pritish Nandy were among the top sells. In the telecom pack, MTNL, Bharti Airtel, and ITI were among the top buys, and Reliance Communication Ventures was sold.
Selling was seen in metal stocks Sail, Hindalco, Godawari Power & Steel, Visa Steel, and Hindustan Zinc, while Tata Steel, Sterlite Industries, Usha Martin were among top buys. Power pivotals NTPC, Reliance Energy Ventures, Tata Power, and Reliance Energy were also sold, while Reliance Natural Resources, and Neyveli were bought.
Among the IT pivotals, Satyam, Infosys, TCS, and Wipro were bought, but heavy selling was seen in HCL Technologies. Among chemical stocks, GSFC, Aarti Industries, and Rain Calcining topped the buy list, while Gulf Oil, Tata Chemicals, and Chambal Fertilisers were among the top sells.
http://in.rediff.com/money/2006/jun/14perfin1.htm
SENSEX ENDS BELOW 9000 MARK FOR THE FIRST TIME SINCE 8th DECEMBER 2005.
SENSEX HAS LOST MORE THAN 1000 PTS IN 3 DAYS
NIFTY SLIPS BELOW 2600 MARK
NIFTY DOWN OVER 9% IN LAST 3 DAYS
Gokul & Great
You both said that its a market correction .
Whats happening now ? Is the great fall still a market correction or market corruption ??