17th March, THE BLACK MONDAY of indian Market

Yes, this is the black monday we ever had, with both sensex and Nifty losing ground with falling in a day the second highest ever fall.
The market tumbled today as the fire sale of ailing US bank Bear
Stearns and the Federal Reserve's emergency cut in its discount
rate intensified concerns that there could be more victims of the
global credit crisis
A setback in global markets rattled domestic bourses today as the
Sensex posted its biggest single-day point fall. The fall on the
bourses accentuated in late trade as BSE Sensex fell more than
1,000 points at the fag end of the trading session. Heavy selling
was seen in banking stocks. ICICI Bank, HDFC, Hindalco Industries,
Reliance Communications, Tata Steel and Reliance Energy were among
the top losers from Sensex pack. The market breadth was weak.
The 30-share BSE Sensex lost 951.03 points or 6.03% at 14,809.49.
It hit a low of 14,739.72 in late trade, its lowest level since
late August 2007. At day's low Sensex fell 1,020.80 points in late
trade.The 30-share BSE Sensex lost 951.03 points or 6.03% at 14,809.49.
It hit a low of 14,739.72 in late trade, its lowest level since
late August 2007. At day's low Sensex fell 1,020.80 points in late
trade.BSE Clocked a turnover of Rs 5,701 crore today 17 March 2008
compared to a turnover of Rs 5,914.99 on Friday,14 March 2008.
Nifty March 2008 futures were at 4477, at a discount of 26.10
points as compared to spot closing of 4503.10.

The NSE's futures & options (F&O) segment turnover was Rs 40,058.11
crore, which was lower than Rs 40,184.57 crore on Friday, 14 March
2008.

Consumer durable index was major loser among sectoral indices on
BSE. It fell more than 10%. Fertiliser stocks plunged. All the BSE
secoral indices were in red.

The market breadth was weak: On BSE 2,405 shares declined as
compared to 282 shares that advanced. 43 shares remained unchanged.

The BSE Mid-Cap index fell 6.97 % to 6,124.35 and BSE Small-Cap
index declined 6.9% to 7,522.23. Both these indices underperformed
Sensex.

BSE Consumer Durables index (down 9.69% to 3,638.56), BSE Metal
index (down 7.54% to 13,725.52), BSE Bankex (down 9.06% to
7,569.16), BSE Realty index (down 7.86% to 7,106.53) , BSE Capital
Goods index (down 6.43% to 12,706.31) underperformed Sensex.

BSE PSU index (down 4.97% to 7,153.44), BSE IT index (down 3.2% to
3,297.71), BSE Oil & Gas index (down 5.34% to 9,801.86),BSE Power
index (down 5.58% to 2,973.68), BSE HealthCare index (down 5.2% to
3,621.90), BSE Auto index (down 4.62% to 4,329.46), and BSE FMCG
index (down 3.18% to 2,119.60) outperformed Sensex.

India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries declined 6.08%
to Rs 2,180.60..

Jaiprakash Associates (down 11.94% to Rs 208.05), HDFC (down 11.07%
to Rs 2,225.55), Reliance Energy (down 8.13% to Rs 1,190.80),
Hindalco Industries (down 9.2% to Rs 164.85), Tata Steel (down
7.93% to Rs 658.50), Grasim Industries (down 6.55% to Rs 2,670.85)
and Larsen & Toubro (down 7.03% to Rs 2,703.50), were major losers
from Sensex pack.

Banking stocks declined further in late trade. India's largest
commercial bank by net profit State Bank of India declined 4.72% to
Rs 1,633.40. ICICI Bank (down 13.76% to Rs 757.40), HDFC Bank (down
5.89% to Rs 1,238.50) edged lower.

Consumer durables stocks extended losses. Titan Industries (down
13.03% to Rs 930.05), Rajesh Exports (down 15.58% to Rs 79.65),
Videocon Industries (down 7.46% to Rs 279.30) and Blue Star (down
10.26% to Rs 380.50) edged lower.

India's biggest power-equipment maker by sales Bharat Heavy
Electricals (BHEL) declined 4.41% to Rs 1,796.05. As per reports,
the company will acquire Vizag-based Bharat Heavy Plates and
Vessels by the first half of 2008/09.

India's largest telecom services provider by sales Reliance
Communications fell 6.87% to Rs 482.75. It added 1.61 million
mobile subscribers in February 2008. The firm had 42.6 million
mobile subscribers at the end of January 2008.

Reliance Power declined 6.45% to Rs 315.70. It has reportedly
struck a deal to buy out a coal mine in Indonesia. The valuation of
the coal mine, based on its reserves, is estimated to be around Rs
20,000 crore.

Fertiliser stocks slumped. National Fertiliser (down 13.45% to Rs
38.60), Mangalore Chemicals & Fertilisers (down 10% to Rs 18.20),
Nagarjuna Chemicals & Fertilisers (down 7.79% to Rs 36.10), Chambal
Fertilisers & Chemicals (down 7.23% to Rs 48.75), Coromandel
Fertilisers (down 7.81% to Rs 103.30), Deepak Fertilisers (down
12.85% to Rs 92.60) edged lower.

Cairn India declined 6.61% to Rs 213.30. The company said today, 17
March 2008 before market hours its board will meet on 17 March 2008
to consider a preferential issue of equity shares.

Reliance Natural Resources clocked the highest volume of 2.26 crore
shares on BSE. Orchid Chemicals & Pharmaceuticals (1.54 crore
shares), Reliance Petroleum (1.37 crore shares), V-Guard Industries
(1.3 crore shares) and Ispat Industries (1.11 crore shares) were
the other volume toppers in that order.

Reliance Industries clocked highest turnover of Rs 274.22 crore on
BSE. GSS America Infotech (Rs 237.04 crore), Reliance Natural
Resources (Rs 232.49 crore), Reliance Petroleum (Rs 215.46 crore )
and Orchid Chemicals & Pharmaceuticals (Rs 206.98 crore) were the
other turnover toppers in that order