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Tuesday, November 11, 2008 | Labels: , , , , | |

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Sensex plunges over 700 points and S&P CNX Nifty tumbled over 200 points
Due to fall in exports, global recession fears

Market tumbled today as fall in India's exports for the first time in five years in October 2008 and China's massive $600 billion economic stimulus package announced on Sunday, 9 November 2008 was not able to make investor mind rely for patience. The BSE 30-share Sensex make deep 700 points and S&P CNX Nifty tumbled over 200 points, .

Reduction in India's growth predicted by one of the big US bank Morgan Stanley also act as fuel to worse selling pressure fire. Morgan Stanley also forecast Indian GDP growth in range of to 5.7% from 6.5%. All these things are cause of red color of stocks remain on head on trader and investors.

There is also fear in global investor, China’s economy will not follow path of US economy. China’s bailout package seems as one of evidence for slowdown. If this happen then we will be part of history global slowdown.

The BSE 30-share Sensex slumped 731.90 points, or 6.95%, to 9,804.26 as per provisional closing. At the day's low of 9,800.67 hit in late trade, the Sense crashed 735.49 points. The Sensex lost 138.80 points at the day's high of 10,397.36 in early trade.

In intraday session all 30 stock BSE make huge gap with yesterdays closing. Yesterday’s 500 point gain was swept out today. This day become for investor, but who is in short they will gain good amount of money today. Yet in Indian market future feel in red. Be cautious. Book profit .This type of market seem good for short selling in intraday, be clever then only do short selling this is my humble advise to all my friends.

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