Bear attack at Dalal Street

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Subject Author Date Bear attack at Dalal Street ronald.chis@googlemail.com 06-04-2008
Posted by ronald.chis@googlemail.com on June 4, 2008, 9:04 am Bear attack at Dalal Street The markets opened on a shaky note and traded marginally in the negative for the first part of the day. The government finally passed a decision to raise prices of diesel, petrol and LPG. Petrol prices will be raised by Rs.5 a litre and diesel by Rs.3 a litre. LPG prices are to be raised by Rs. 50 for a 14.2 kilogram bottle, effective midnight. While the markets did try to recover, fears of increasing inflation, political tension (Left opposed the fuel price hike) and weak global cues pulled the markets down. While the Sensex was down 447.77 points or 2.81% at 15,514.79, the Nifty lost 130.3 points or 2.76% to close at 4585.60. The broad market indices also ended lower as the BSE Midcap and BSE Small cap indices lost 2.29% and 2.06% respectively. The market breadth was negative, as A/D ratio was 1:3 on the BSE. NSE cash turnover was Rs.14,186.62 crs. Vs. Rs.13,020.16 crs. yesterday. Sectorally, it was a sea of red. Major losers included the BSE Power, Metal and Realty all of which lost more than 4%. The only gainer from the BSE-30 was ONGC (relief due to fuel price hike). Losers in the Sensex pack included Ambuja Cement, Tata Steel, HDFC Bank and Maruti Suzuki, all of which lost more than 5%. With the Nifty breaking the 4600 strong support levels, the markets seem to be headed lower. Short term traders who do not want to remain on the sidelines can consider building some short positions. Investors can however remain on the sidelines till the markets show some signs of stability. You liked the site then promote it here - https://www.freetellafriend.com/tell/?url=http%3A%2F%2Finvestorline.co.in%2Fblogs%2Fnews & to create your own free site & Blog logon to - http://investorline.co.in/blogger Similar Threads Posted The History of Wall Street May 11, 2006, 6:21 pm Random walk down Wall Street January 10, 2008, 6:10 pm Wall Street Journal - 2-year subscription $109 January 14, 2008, 12:40 pm 5 'recession proof' trading 'attack plans'... September 16, 2008, 10:43 am Mad Money Bear & Bull December 5, 2006, 6:28 pm SIGNAL THAT WOULD CONFIRM A BEAR MARKET IN STOCKS August 22, 2007, 7:21 am Daytrading Pivot Points - A Panting Bear - PIC September 25, 2008, 11:21 am Learning to Profit from the Upcoming BEAR MARKET - Learn MORE! June 11, 2006, 10:20 pm When you are buying overall uniforms for your workers, there are some very important things that you need to bear in mind. The following is a list: April 21, 2008, 8:15 am