vengabeats
Par 100 posts (V.I.P)
The stock market made a smart recovery after the trade was suspended for an hour for the second time in the indices' history after hitting a 10% low. The first being on May 17, 2004.
After plunging over 1,100 points, the BSE Sensex made a recovery of 700 points to close above the 10,500 level.
The 30-share benchmark index fell 1,111.70 points at 9,826.91.
Similarly, the NSE Nifty fell 345.90 points at 2,901.00 below the 3,000 mark. The Nifty aslo made a pull back from its lower levels to close at nearly 3,100 level.
There was heavy selling across sectors which dragged the indices to its lower levels.
After an hour-long suspension, stock markets resumed trading at 1300 hours. The recovery followed strong statements and appeals by Finance Minister P Chidambaram and market regulator M Damodaram that there was no cause for panic and there was no liquidity crisis.
The revival was largely on account of huge buying by domestic funds, according to market analysts.
Among the gainers, Reliance Energy and Cipla returned to the positive territory as the stock market embarked upon a recovery path following a one-hour suspension of trading forced by the benchmark Sensex hitting a lower circuit limit of more than 10 per cent.
A host of bluechip counters saw fresh buying interest at their lower levels, but Reliance Energy and Cipla were the only two Sensex scrips that managed to break into the green by afternoon trade.
REL was trading 1.2 per cent up at 519.90, after hitting a 52-week low of 458.60 earlier in the trading session.
Cipla moved up 0.7 per cent to Rs 223, after hitting a new 52-week-low of Rs 178 earlier in the trading session.
The BSE Sensex recovered nearly 700 points after plunging by 1,111.70 points this morning.
Tata Motors, NTPC, Wipro, ACC and L&T were among other major Sensex scrips that recovered from their lower levels.
In the BSE-100 index, by afternoon nine scrips were trading in green, in BSE-200 14 scrips were trading in the positive sector and while in BSE-500 index there were 25. trade.
In the 50-stock Nifty, Reliance Energy and Dabur India were the two trading in the positive territory, while Reliance Industries, Tata Steel , Satyam, Infosys, Tata Motors, ONGC, ACC, Cipla, L&T, TCS , Grasim, Bajaj Auto, BHEL, IPCL, Maruti, HDFC, ABB and Tata Power also came off sharply from their lower levels.
A total of 195 scrips were trading with gains against 2,108 scrips trading in the red on the BSE.
Sorce : Economic times
After plunging over 1,100 points, the BSE Sensex made a recovery of 700 points to close above the 10,500 level.
The 30-share benchmark index fell 1,111.70 points at 9,826.91.
Similarly, the NSE Nifty fell 345.90 points at 2,901.00 below the 3,000 mark. The Nifty aslo made a pull back from its lower levels to close at nearly 3,100 level.
There was heavy selling across sectors which dragged the indices to its lower levels.
After an hour-long suspension, stock markets resumed trading at 1300 hours. The recovery followed strong statements and appeals by Finance Minister P Chidambaram and market regulator M Damodaram that there was no cause for panic and there was no liquidity crisis.
The revival was largely on account of huge buying by domestic funds, according to market analysts.
Among the gainers, Reliance Energy and Cipla returned to the positive territory as the stock market embarked upon a recovery path following a one-hour suspension of trading forced by the benchmark Sensex hitting a lower circuit limit of more than 10 per cent.
A host of bluechip counters saw fresh buying interest at their lower levels, but Reliance Energy and Cipla were the only two Sensex scrips that managed to break into the green by afternoon trade.
REL was trading 1.2 per cent up at 519.90, after hitting a 52-week low of 458.60 earlier in the trading session.
Cipla moved up 0.7 per cent to Rs 223, after hitting a new 52-week-low of Rs 178 earlier in the trading session.
The BSE Sensex recovered nearly 700 points after plunging by 1,111.70 points this morning.
Tata Motors, NTPC, Wipro, ACC and L&T were among other major Sensex scrips that recovered from their lower levels.
In the BSE-100 index, by afternoon nine scrips were trading in green, in BSE-200 14 scrips were trading in the positive sector and while in BSE-500 index there were 25. trade.
In the 50-stock Nifty, Reliance Energy and Dabur India were the two trading in the positive territory, while Reliance Industries, Tata Steel , Satyam, Infosys, Tata Motors, ONGC, ACC, Cipla, L&T, TCS , Grasim, Bajaj Auto, BHEL, IPCL, Maruti, HDFC, ABB and Tata Power also came off sharply from their lower levels.
A total of 195 scrips were trading with gains against 2,108 scrips trading in the red on the BSE.
Sorce : Economic times