NIFTY and BSE Sensex down by more than 10%
Economic crisis seems to continue and its face is now becoming worse. The benchmark indices Nifty and BSE crashes below 10% today. The pressure in the market are coming in from the European funds. Some large Europe based funds are facing serious redemption pressure. The panic sell by the local funds are increasing the pressure in the market.
Bank, Oil, Metal, Realty slip over 10%. Among the frontliners, Suzlon Energy went down over 35%. Unitech lost 28% and Nalco crashed 24%.
Hindalco, ABB, Power Grid, PNB, Cairn India, Ranbaxy Labs, ONGC, Tata Motors, Tata Steel, Sterlite Industries, DLF, Maruti Suzuki, M&M, Reliance Industries, Reliance Infrastructure, SBI, Reliance Communication, HDFC Bank, ICICI Bank, and Tata Power plunged 10-20% on the Sensex. 458 shares have advanced while 2541 shares have declined. Nearly 191 shares are unchanged.
The Dow and Nasdaq Futures fell over 6% each. SGX Nifty tumbled over 12%. European markets are down 6-8%.
Current BSE Graph:
Tags: BSE, Econimic Crisis, Funds, NIFTY, Stocks
