Abhishek Speaks

It was a highly dramatic, scary, speculative, panic, volatile & what else ??? Witnessing the biggest point fall in the History of Indian Stock Market (NSE & BSE) till now. Today is regarded as the worst day for Investors as Investors wealth is down by a whopping Rs.6,63,975.46 Crores This is a Great loss to the Market capitalization of Indian Companies that too in just a single day. Sensex going below 17,000 but managed to recover more than 700 points in closing trade & closed down 1408.35 points or 7.41% at 17605.35 & Nifty down 496.50 points or 8.70% at 5208.80.

BSE was shut for a brief period of time though it resumed trading immediately, and recovered 700 Points from the days low. This fall was followed by the Major Asian Indexes fell accompanying the U.S Markets. Hope we recover soon.

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The Bombay Stock Exchange’s main index SENSEX roared to 20000 to begin this week with a relentless strength and closed at 19977.67 with a gains of 734.50 Points and NIFTY closed at 5905.90 with gains of 203.60 Points. The strength was seen coming from all sectors. The Asian Market cues were motivating the Indian Markets to rise and rise and the peer Asian indexes to close in Green with gains of 1% to 3%.

This made Mukesh Ambani the Richest person on Earth who is valued at Rs:2,49,000 Crores which includes Rs:2,10,000 Crores from RIL (50.98% Stake), Rs:37,000 Crores from RPL (37.5%) and Rs:2,100 Crores from RIIL (46.23%)

The top 6 stocks contributed 90% to the latest 1000 point rally from 19000 to 20000 and L&T and ICICI Bank were top among it contributing 50% of the last 1000 Point rally. The star performers among the large caps were L&T, SIEMENS, RPL, BHEL, HDFC, HDFC Bank and BHEL to mention a few. About 1700 shares were Advanced, 1288 shares were Declined and 70 were Unchanged.

Previous Memories of SENSEX growth:

• 1000-July 25th 1990
• 2000-January 15th 1992
• 3000-February 29th 1992
• 4000-March 30th 1992
• 5000-October 8th 1999
• 6000-February 11th 2000
• 7000-June 20th 2005
• 8000-September 8th 2005
• 9000-November 28th 2005
• 10000-February 6th 2006
• 11000-March 21st 2006
• 12000-April 20th 2006
• 13000-October 30th 2006
• 14000-December 5th 2006
• 15000-July 6th 2007
• 16000-September 19th 2007
• 17000-September 26th 2007
• 18000-October 9th 2007
• 19000-October 15th 2007
• 20000-October 19th 2007 TODAY

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What a day it was in the Indian Stock Markets, The most awaited 18k is one of the fastest milestone in the history of Sensex & atlast done today, The benchmark indices today outperformed the broader markets.After a dull start victory came in with Sexsex hitting the 18000 mark today. This came in as surprise after the news that UPA, Left to meet again on US Nuke Deal on October 22.

Sensex saw gains of 1000 points from the day’s low with the backdrop of political uncertainty. It was absolute heady for the Bulls making Biggest intra day gains. Despite all the political problems which markets seems to be have ignored & making new records by not just touching new highs but has registered some record gains on record turnover.

The Sensex took just 8 Trading session to move from 17000 to 18000. The major contributors to this rally were RIL with 185 Points, Infosys with 152 Points, L&T with 103 Points, REL with 104Points, Tata Steel with 42 Points, Reliance Communication with 93 Points, Bharti (Airtel) with 69 Points, BHEL with 59 Points, NTPC with 39 Points & Satyam with 33 Points. To a shocking fact The Top Five Stocks have contributed 60% to the rally from 17000 to 18000 & the FII’s have invested a whopping 3.54 Billion US$ in the cash segment.

Sensex Closed @ 18280.24 (+788.85)

Nifty Closed @ 5327.25 (242.15)

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