Sensex collapsed nearly 855 points; Nifty tanked 251 points in a single session, a biggest fall in 16 months. Nifty Fut hit a low of 8000 in early trades first time after 28th Oct 2014.
Indian shares joined a sell-off in global markets Tuesday as crude oil prices continued to fall and concerns of a slowdown in the global economy grew.
The S&P BSE Sensex fell 3.1% to 26,987.46 points, its biggest percentage fall since September 2013. The National Stock Exchange's Nifty index also fell 3% to 8,127.35.
The ATHEN INDEX COMPOS an index of Greece is down by 5.63% to 52 week low @ 789.2.The forthcoming European Central Bank (ECB) meet on 22nd Jan may discuss a stimulus programme but the ECB cannot go ahead and purchase Greek bonds ahead of a general elections in that country. Greece has come back to haunt the Euro-zone because of which the European Central Bank is caught in a tough situation said Nick Parsons, Head of Research ( UK and Europe).
Earlier Tuesday, oil prices extended their slump with both Brent and U.S. crude futures trading at 5-1/2-year lows amid concerns of a supply glut. Analysts said the sharp decline in energy prices has stoked concerns of deflation in many global economies.
Among CNX Sectoral indices, CNX PSU Bank index plunged the most by 4.12% followed by CNX Energy, down by 4.02%. All indices were down more than 1% each.
In Nifty50 stocks, 48 stocks closed in red, Jindalsteel was the top loser by 7.03% and Hindunilvr was the top gainer by 1.54% between two. Another gainer was coalindia which was marginally up by 0.07%.
IT giant, Infy was the turnover topper by the traded value and Unitech by the traded quantity.
Advance Decline ratio was far on negative (6.3 :1) as just 212 stocks gained against declined of 1341 on NSE today.
Nifty Outlook :
As posted in my previous post dated 26th Dec.2014, I had clearly stated that Nifty will continue to decline and it will have support around 8135 and at 8050. But as Nifty has not breached previous low of 8000 and closed above it's first support of 8135, we will hope for a recovery.
Indian shares joined a sell-off in global markets Tuesday as crude oil prices continued to fall and concerns of a slowdown in the global economy grew.
The S&P BSE Sensex fell 3.1% to 26,987.46 points, its biggest percentage fall since September 2013. The National Stock Exchange's Nifty index also fell 3% to 8,127.35.
The ATHEN INDEX COMPOS an index of Greece is down by 5.63% to 52 week low @ 789.2.The forthcoming European Central Bank (ECB) meet on 22nd Jan may discuss a stimulus programme but the ECB cannot go ahead and purchase Greek bonds ahead of a general elections in that country. Greece has come back to haunt the Euro-zone because of which the European Central Bank is caught in a tough situation said Nick Parsons, Head of Research ( UK and Europe).
Earlier Tuesday, oil prices extended their slump with both Brent and U.S. crude futures trading at 5-1/2-year lows amid concerns of a supply glut. Analysts said the sharp decline in energy prices has stoked concerns of deflation in many global economies.
Among CNX Sectoral indices, CNX PSU Bank index plunged the most by 4.12% followed by CNX Energy, down by 4.02%. All indices were down more than 1% each.
In Nifty50 stocks, 48 stocks closed in red, Jindalsteel was the top loser by 7.03% and Hindunilvr was the top gainer by 1.54% between two. Another gainer was coalindia which was marginally up by 0.07%.
IT giant, Infy was the turnover topper by the traded value and Unitech by the traded quantity.
Advance Decline ratio was far on negative (6.3 :1) as just 212 stocks gained against declined of 1341 on NSE today.
Nifty Outlook :
As posted in my previous post dated 26th Dec.2014, I had clearly stated that Nifty will continue to decline and it will have support around 8135 and at 8050. But as Nifty has not breached previous low of 8000 and closed above it's first support of 8135, we will hope for a recovery.
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