Market recovers

The markets closed in red but showed remarkable recovery and were off the lows.


It was yet another scary session, which opened with circuit down, and the markets were shut for an hour then recovered a bit after opening but continued to witness some wild swings.


However, markets got some buying support towards the end with some positive cues of recovery in European markets. The Finance Ministry has ruled out foul play in the stock market.


Nifty ended down 310 points recovered nearly 450 points from the day's low. NSE Advance:Decline ratio was at 1:18; which was as bad as 1:87 at one of time.


Sensex closed down 850 points, it recovered over 1400 points from the day's low.


Bharti Airtel, Infosys, Reliance Energy, Idea, SBI, Nalco and Sesa Goa were among the stocks providing support at the lower levels.


ITC, M&M, Ambuja Cements, Hero Honda, ONGC, Sun Pharma, Ranbaxy are the top losers. The other losers were Tata Steel, Satyam, PNB, Maruti, Cipla and HUL.


Markets show remarkable recovery: Sensex recovers 1600 pts


The markets are again showing smart recovery with Sensex recovering nearly 1600 points from the day's low. Nifty has recovered 500 points from the day's low.


Europe has also shown good recovery and FTSE is trading in green.


Sensex has bounced back and is up over 17,000 mark. The NSE Advance:Decline ratio at 1:30. Nifty after breaching 4500 mark is trading above 4900 levels.


Idea had a smart pullback and is up two per cent, SBI up over one per cent, Nalco is up four per cent, Sesa Goa up seven per cent.


At 1450 hrs IST, the Sensex is down 652.68 points or 3.71 per cent at 16952.67, and the Nifty down 247.65 points or 4.75 per cent at 4961.15.


About 219 shares have advanced, 2724 shares declined, and 39 shares are unchanged.


ONGC, Sun Pharma, Ranbaxy are the top losers down over nine per cent each. Tata Steel, Satyam, PNB, Maruti, Cipla and HUL were the top losers among the index counters.


However, Bharti Airtel, GAIL, Infosys, Suzlon, Grasim were providing some support at the lower levels


Carnage in markets: Sensex down 9.5 per cent; Nifty down 11 per cent


The markets have slipped again and Sensex is down 9.5 per cent and Nifty is down 11 per cent. Europe has opened in deep red.


It has opened with a sharp cut, CAC is down 6.8 per cent, DAX is down five per cent, FTSE down three per cent. The NSE Advance:Decline ratio at 1:40.


At 1418 hrs IST, the Sensex is down 1,667.82 points or 9.47 per cent at 15937.53, and the Nifty down 489.70 points or 9.40 per cent at 4719.10.
source:ibnlive

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