MARKETS
INSIGHT
Democracy and the markets
The stock market slide has been presented as a reaction to the possible economic agenda of the new government. But in this edition of Macroscan, C. P. Chandrasekhar and Jayati Ghosh argue that any attempts to shape policies only to keep finance happy would be neither democratic nor necessary for economic growth.
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MUTUAL FUNDS
Fund houses buy at lower levels
FUND managers took the brunt of the plunging market even as some value-driven buying were reported at lower levels. Most fund houses, though faced with the prospects of further erosion in net asset values, urged investors not to critically ...
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TECHNICAL ANALYSIS
Bear rampage
THE sentiment reading of the tradable counters stands absolutely bearish. Irrespective of bull or bear domination on Tuesday, the strong bearish sentiment is likely to continue. Nifty futures recommendation: The May month contract ...
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STOCK EXCHANGES
Markets blame conspiracy by Kolkata brokers
BLAME it on Kolkata "bears" appeared to be the slogan in the market circles today. Market might have lapped it up because of involvement of some city brokers in 2001 March stock market scam. Today's "conspiracy story" went round like this that ...
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STOCK MARKETS
Panic selling reduces Dalal Street to rubble — Erodes Rs 2 lakh cr; Sensex sheds 842 intra-day; trading suspended twice
THE spectre of "market-unfriendly" Left ideology having an overwhelming influence on economic policy-making at the Centre drove equity investors into a selling frenzy that saw the BSE Sensex fall 842 points before recovering about 300 points in ...
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SEBI allays fears of payment problems
The Securities and Exchange Board of India (SEBI) has said it does not anticipate any payment difficulties in trade settlements following the crash in stock markets. The assurance came in the wake of fears that many market participants may face ...
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All in a day's trading
TRAILING through the events that happened on Monday, one can only recall a similar day of cries, confusion and chaos more than a decade ago on the day the securities scam broke out. At 9:56 a.m. on Monday, a minute after the opening bell, the ...
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RBI offers liquidity support
IN a bid to allay the fears of a payment crisis at the stock exchanges, the Reserve Bank of India (RBI) today announced that it would provide liquidity facilities to any of the settlement banks. When contacted, none of the settlement banks ...
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How the index-based circuit filter works
THE stock market today saw the use of index-based circuit breakers for the first time after they were introduced on June 28, 2001. The circuit breakers get activated at three stages of index (NSE Nifty or BSE Sensex) movement either way at 10 ...
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It is cascading effect, say brokers
IT WAS a double whammy for the markets. Did they see it coming? One could safely say they did not. While market participants did anticipate a bearish trend, the extent and severity of the fall caught them on the back foot. It was a day of huge ...
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Left accuses rightist forces of engineering market crash
THE capital market crash has created its own ripple in the political stage with the Left parties accusing the "rightist forces" of engineering the slide to create a negative sentiment. "This is a deliberate attempt on the part of the rightist ...
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MFs, FIIs to wait and watch
FUND managers are happy to be fence sitters till there is some clarity about the new government's economic policies. "Mutual funds are being cautious investors now. We feel that it is wiser to wait for a couple of days and observe the market," ...
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Manmohan warns of stern action against 'perpetrators'
THE Congress-led Government-in-waiting today sent out a stern warning that it would act decisively to punish anyone found guilty of manipulating the capital market that could have perpetrated today's crash. ``We are not in Government. We do not ...
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Jaswant urges SEBI, RBI to ensure market stability
THE outgoing NDA Government today lent a helping hand to the new Government in dealing with stock market crash with the outgoing Finance Minister, Mr Jaswant Singh, asking the Securities and Exchange Board of India (SEBI) and the Reserve Bank of ...
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`Capital market overreacting'
THE capital market is overreacting to the statements made by a few political leaders in isolation, without taking into consideration the Common Minimum Programme, which has yet to be formulated. According to an official statement quoting Mr ...
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Chambers not unduly perturbed
THE volatile fluctuations witnessed in the Indian market in the past couple of days does not seem have India Inc unduly perturbed. The Director-General (Designate) of the Confederation of Indian Industry (CII), Mr N. Srinivasan, felt what was ...
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A survivor!
THE stock of HPCL hammered sharply last week and survived the bear onslaught. On a day when the Sensex and Nifty were down over 11 per cent, the stock price of the oil major was down just 5 per cent. However, during the day, the stock was ...
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Red splash across BSE-100
THE roller-coaster ride in the markets on Monday saw red splashed all over when trading was halted at about 11:20 a.m. All stocks that were part of BSE 100 were in negative territory. Twelve stocks had shed Rs 100 or more; 19 stocks had lost ...
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Coimbatore investors bearish about recovery
STOCK market players in Coimbatore are sceptical of any near-term recovery in the capital markets after the Monday morning bloodbath as the loss incurred by the market operators is expected to be enormous and any large-scale default by market ...
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Can domestic FIs do the rescue act?
WHEN the markets go into a free fall, the Government often seems to look to domestic institutions to do the rescue act. But as drivers of market liquidity, domestic institutions still appear to be dwarfed by the FIIs. Just in four months ...
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e-Serve stocks close at Rs 795
E-SERVE International was among the few stocks which escaped the carnage at the stock markets rather lightly. On a day in which the Sensex, Nifty and even the mid-cap indices fell by over 10 per cent at close, e-Serve International stock shed ...
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There's something about Monday
THERE is something about Monday that gives the markets the jitters: even as the BSE Sensex tanked by a staggering 564 points (or 11 per cent) in what would turn out to be the second biggest fall in its history, the coincidence with similar such ...
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How circuit breakers cut trading in stock markets
AN electrical circuit breaker is a safety mechanism that cuts power whenever a building's electrical wiring has too much of it flowing through. The stock market's circuit breaker works on the same principle: cut trading when the system is ...
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Corporates blame politicians for carnage
CORPORATE circles have blamed the politicians for the crash in the stock markets on Monday. The market may have over-reacted, but has not that always been its nature? Pardoning the bourses' weakness for exaggerated response, they largely ...
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Retail investors hit hard; some pick up stocks
As the day unfolded, small investors were left gaping at TV screens and computer monitors, barely able to comprehend what the implications of Monday's crash would be to their financial goals.
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Alarm goes off
A scene at a stock broking firm in Hyderabad when the market suffered the worst ever fall and trading came to a halt on Monday.
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