This was the worst week for the share market. During this week BSE Sensex slipped from 12,526.32 to 10,527.85 or 1,998.47 points or 15.95 %, which was the highest fall in last 18 years (YES! 18 years). BSE Sensex declined 50.61 % at from life time high of 21,206 on 10th Jan 2008. Many scrips have declined to 52-week low. ICICI Bank declined to 327 which is its before for 3 years.
On Friday, BSE Sensex was just 48 points away from lower circuit. RBI revised CRR rate cut from 0.50 % (declared on 06th Oct 2008) to 1.50 % effective from Saturday, which will increase liquidity of 40-60 thousand crores of rupees.
10 BSE Sectoral indices were below 52-week low. BSE Realty and BSE Power were all time low.
From 10th Jan 2008 to 10th Oct 2008 net erosion of Rs. 36,50,000 crore.
The August Index of Industrial Production (IIP) numbers came in at 1.3% versus 10.9% year-on-year (YoY),
The inflation for the week ended on Sep 27, 2008 is 11.80 % against 11.99 %. This was the second week when the inflation is below 12 %.
Not Only for BSE, this week was bad for global markets. On Friday, Decline in Dow Jones was the biggest in 5 years. In Japan, the market was locked in lower circuit and was closed during market hours. Hang Seng ended down 1146.37 points.
US $ against rupee touched 49.30 and closed 48.46. During the rupee declined 183 paise.
Gold crossed Rs. 14,000 (for 10 gms) mark on Friday.
On Friday, BSE Sensex was just 48 points away from lower circuit. RBI revised CRR rate cut from 0.50 % (declared on 06th Oct 2008) to 1.50 % effective from Saturday, which will increase liquidity of 40-60 thousand crores of rupees.
10 BSE Sectoral indices were below 52-week low. BSE Realty and BSE Power were all time low.
From 10th Jan 2008 to 10th Oct 2008 net erosion of Rs. 36,50,000 crore.
The August Index of Industrial Production (IIP) numbers came in at 1.3% versus 10.9% year-on-year (YoY),
The inflation for the week ended on Sep 27, 2008 is 11.80 % against 11.99 %. This was the second week when the inflation is below 12 %.
Not Only for BSE, this week was bad for global markets. On Friday, Decline in Dow Jones was the biggest in 5 years. In Japan, the market was locked in lower circuit and was closed during market hours. Hang Seng ended down 1146.37 points.
US $ against rupee touched 49.30 and closed 48.46. During the rupee declined 183 paise.
Gold crossed Rs. 14,000 (for 10 gms) mark on Friday.
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