Just in: Sensex dips below 9,000 barrier crashes by 417.33 pts to 8,969 points. Nifty at an intra-day low of 2695.25. Bank, metal, realty, power stocks are really hit.
1:43 PM 11/17/2008
Just in: At 11 am, BSE's Sensex was down over 300 points, while the National Stock Exchange"s Nifty was below the 2800 mark, about 70 points down. After the two major Asian economies Japan and Hong Kong slid to recession the stocks across the region fell. Also the G-20 nations delayed agreeing on specific measures to combat the global crisis. However, the Nikkei average rose 1 per cent in thin trade as some investors rushed in to buy following an initial sell-off after data showed Japan's economy was in recession.
17/10/2008 11:40 AM
Mumbai, Nov 17: On Monday, Nov 17 tracking the Asian markets, Indian stock market opened positive.
Bombay Stock Exchange's benchmark index Sensex climbed 34.70 points to 9420 from Friday, Nov 14's close. While National Stock Exchange's Nifty rose 13.15 points or 0.38 per cent to 2823. Stocks opened on a flat note with a positive bias on Monday tracking Asian peers. Japan contracted at an annual pace of 0.4 per cent in the July-September period after a declining an annualized 3.7 per cent in the second quarter. The recent behind the latest economic dropout is falling business investment.
US stocks also slid on Friday, Nov 14 after a record drop in retail sales in October increased fears that American consumers' reluctance to spend will push the economy into an even deeper downturn than currently expected.
17/10/2008 10:31 AM