Saturday 11 October 2008

Worst weekly performance of Sensex,Nifty ever: Anagram

Anagram Research Daily Market Review:

Mayhem in the world equity market continued as almost all of them witnessed sharp cuts in today’s trading session. Sensex plunged by 800 points and closed at 10527 while Nifty shed 234 points to close at 3279. On weekly basis, Nifty is down 14.1%, which is the highest ever fall, while Sensex is down 16%, second highest fall ever. Rupee touched an all time low of 49.17 against the dollar and closed at 48.47. Tech bellwether Infosys announced its Q2 results today, which were in line with market expectation. However, company cut it’s full year revenue and EPS guidance by 5% in dollar terms.

In a dramatic move RBI announced a further 100 bps cut in CRR along with a 50 bps cut announced recently. IIP data released today showed a dismal growth of 1.3% as against 7.1% for the previous month and expectation of 6%. Inflation for the week ended Sep. 27 came at 11.80% against the expectation of 12% and 11.99% seen in the previous week. Crude oil touched a 12 month low of USD 81.1 in today’s trade.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Source: Moneycontrol

Posted by Harsh at 00:26

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)
DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.