Key benchmark indices witnessed a disastrous opening spooked by
reports that the Bank of America struck a $50 billion deal to buy
US's investment banking major Merrill Lynch. The BSE 30-share
Sensex was down 643.32 points. Meanwhile, reports just filtered in
that US investment bank Lehman Brothers is filing for Chapter 11
bankruptcy.
Index heavyweight Reliance Industries (RIL) plunged to 52-week low
below Rs 1900. IT pivotals were the worst hit in the early slide,
with Satyam Computer Services plunging over 10%. All the 30-members
from the Sensex pack suffered losses.
Asian markets were trading lower today, 15 September 2008. Key
benchmark indices in Taiwan and Singapore fell 4.32% and 3.18%.
Most major Asian equity markets were closed for public holidays.
At 10:21 IST, the BSE 30-share Sensex was down 643.32 points or
4.63% to 13,351.91. The Sensex opened with a downward gap of 408.76
at 13,592.05. At the day's low of 13,272.86 hit in early trade
Sensex lost 727.95 points.
The S&P CNX Nifty tumbled 192.70 points or 4.56% to 4,035.75.
The market breadth was weak on BSE with 1397 shares declining as
compared to just 188 that rose. 21 remained unchanged.
All the 30-members from the Sensex pack suffered losses.
IT pivotals tumbled. India's fourth largest software services
exporter Satyam Computer Services plunged 10.37% to Rs 364.60. It
was the top loser from Sensex pack.
Other IT stocks Wipro (down 6.67% to Rs 391.75), Infosys (down
4.01% to Rs 1578), TCS (down 7.07% to Rs 751.50), edged lower.
India's largest private sector firm in terms of market
capitalization and oil refiner Reliance Industries slumped 4.02% to
Rs 1852.90. The stock hit a 52-week low of Rs 1833.25 in early
trade.
India's largest private sector bank in terms of net profit ICICI
Bank slipped 6.72% to Rs 609. India's largest state run bank in
terms of net assets State Bank of India fell 4.36% to Rs 1446.60
Reliance Infrastructure (down 7.80% to Rs 856.80), Jaiprakash
Associates (down 7.14% to Rs 146.30), and Sterlite Industries (down
6.80% to Rs 454), edged lower from Sensex pack.
US light crude for October 2008 delivery fell $1.52 to $99.66 a
barrel today, 15 September 2008 on early signs that Hurricane Ike
may have spared key Gulf Coast infrastructure, although traders
were cautious on Monday as they awaited status reports on more
Texas refineries.
US markets ended mixed on Friday, 12 September 2008, amid
uncertainty over the fate of troubled investment bank Lehman
Brothers. But shares of natural resource companies and utilities
gained as commodity prices rose, offsetting losses among financial
and bank shares. The Dow Jones industrial average slipped 11.72
points, or 0.10%, to 11,421.99. The S&P 500 index gained 2.65
points, or 0.21%, to 1,251.70, and the Nasdaq Composite index
advanced 3.05 points, or 0.14%, 2,261.27.
Back home, heavy selling pressure in pivotals pulled the market
sharply lower on Friday, 12 September 2008. The BSE 30-share Sensex
lost 323.48 points or 2.26% to 14,000.81. and the S&P CNX Nifty was
down 61.85 points or 1.44% to 4,228.45, on that day.
Weak global cues pulled the market sharply lower in the week ended
Friday, 12 September 2008. The 30-share BSE Sensex shed 483.02
points or 3.33% to 14,000.81 and the S&P CNX Nifty fell 123.85
points or 2.84% to 4228.45, on that day.
Foreign institutional investors (FIIs) were net equity sellers
worth Rs 1497.67 crore while mutual funds bought shares worth Rs
695.41 crore on Friday, 12 September 2008, according to provisional
data on NSE. FIIs were net sellers of Rs 777.40 crore in the
futures & options segment on Friday, 12 September 2008
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