Search Now


Friday, September 23, 2011

Sensex, Nifty settle at 4-week lows

Key benchmark indices slipped for the third straight day amid high intraday volatility to reach 4-week closing lows as fears of weak Q2 September 2011 results and data showing heavy selling by foreign funds hit sentiment adversely. The Sensex lost 199.09 points or 1.22%, off close to 205 points from the day's high up about 110 from the day's low. The market breadth was weak. The Sensex had slumped 4.1% on Thursday, 22 September 2011.

Grey Market Premium - Sep 23 2011

Company Name

Offer Price




Vaswani Ind.



SRS Ltd.


2 to 3

P. G. Electroplast

190 to 210

3 to 3.50

Prakash Constrowell

130 to 138

3 to 5

RDB Rasayan

72 to 79


Tijaria Polypiles



Takshell Solutions



Crude comes spiraling down

Prices tumble as global indices register drastic drop amid global economic growth concerns

Crude prices tumbled on Thursday, 22 September, 2011 at Nymex. Prices fell in tandem with US equities which ended considerably lower and also as strong dollar pressured commodities. Global economic growth concerns led to this fall.

Light and sweet crude for October delivery fell $5.4 (6.2%) to $80.52 a barrel on the New York Mercantile Exchange on Thursday. Prices fell to a low of $79.66 and rose to a high of $85 during intra day trading. Last week, crude gained 0.8%. For the month of August, 2011, crude shed 7.1%.

Daily News Roundup - Sep 23 2011

Reliance Industries is undertaking a comprehensive review of its oil and gas strategy to drill abroad instead of bidding for new blocks in view of its ordeals with regulators and auditors. (ET)

Coal India may miss its output target for 2011-12 due to heavy rainfall and law & order problems affecting production. (ET)

About a dozen trade unions demonstrated at various places across the country to express solidarity with agitating Maruti Suzuki workers at Manesar plant. (ET)

Sensex plummets on global rout…Nifty nosedives 200 points

Stock markets around the world got squeezed out with equities across the board rocked by relentless selling. The sentiment in India was hit hard by a worldwide selloff, notwithstanding the latest round of monetary easing by the US Federal Reserve.

The NSE Nifty suffered its biggest percentage fall since August 2009 while registering its biggest point fall since October 2008. The Sensex had its worst fall in more than a year.

The India Vix index shot up 22.5% in a single day, hitting 33.88 levels. The total turnover on the Indian bourse crossed Rs. 2 lakh crores while the advance-decline ratio was clearly in favour of the bears.

Bear the burden!

People become attached to their burdens sometimes more than the burdens are attached to them. ~George Bernard Shaw.

The prophets of doom seem to be having their way. Panic seems to have got the better of market players globally, as policymakers in the US and Europe struggle to stem mounting fears of double-dip recession. The cuts have been absolutely brutal. What’s worse, the mayhem may not be over yet.

Big gap- down likely at start as recession fears deepen

Global recession fears have taken a big toll. This may lead to a weak start on the Dalal Street, extending previous session’s losses.

Headlines for the day:

Realty regulator soon, says Union Minister

State Bank of India doubles MTN programme size to $10 billion

Indian Oil to raise borrowing limits by Rs 30,000 crore

Essar Power eyes distribution licence

ITC raises cigarette prices after VAT hike

Market may extend Thursday's steep losses on weak Asian stocks

The market may extend Thursday (22 September 2011)'s 4.13% slump on weak Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 73 points at the opening bell.

Fears of weak Q2 September 2011 corporate earnings and a rout in global stocks triggered by data showing a further slowdown in China's manufacturing sector and Federal Reserve's assessment that the US economy faces significant downside risks rattled Indian shares on Thursday, 22 September 2011. The BSE Sensex tanked 704 points or 4.13% to settle at 16,361.15, its lowest closing level since 26 August 2011.

SGX Nifty Live Update - Sep 23 2011

4,850.00 -58.50