All is well that ends well. All the investors and trader on Dalal street might be thinking this, after witnessing continues loss or downturns for six days from the last Friday (November 16).
The BSE benchmark index, Sensex, carrying its bearish mode of last week opened at 19,895.49 and after trading for some time in positive terrain it shed most of its gains and slipped into the negative terrain. The downturn continued for the next three days of the week and it lost 1,172 points in the first four days of the week, wipping out all the gains it made in the recent past.
On the last day of the week for the first time the 30-share BSE Sensex ended on a positive note, giving some relief to the bogged down investors. The market rebounded from its one month low on back of decline in inflation figures, recovery in Asian markets and most importantly due to the profit booking, as investors predicted that the recent fall is overdone. Finally after all the ups and downs, it ended on a positive note, giving some relief to the investors and creating a positive atmosphere for the next week.
Sensex ended the week on Friday (Nov. 23, 2007) with weekly loss of 845 points, or 4.24%, at 18,852.87. On the other hand, NSE closed down 298.25 points, or 5.03%, at 5,608.60.
Recap:
On Monday, the 30-share BSE Sensex opened positive at 19,895.49 and traded firm for some time however, later the index slipped into the negative due to profit booking. The index touched an intraday high of 19,971.44 and a low of 19,583.97 to close on a negative note.
BSE Sensex closed at 19,633.36, down 65 points, or 0.33%, while the broad-based NSE Nifty closed at 5,907.65, up 0.8 points.
The 30-share BSE Sensex opened with a negative gap of 122 points at 19,510.94 on Tuesday and continued to trade in the negative in the initial half an hour of morning trade on the back of selling interest amongst frontliners. The index touched an intraday high of 19,714.22 and a low of 19,196.42 to close on a weak note.
BSE Sensex closed at 19,280.80, down 352.56 points, or 1.80%, while the broad-based NSE Nifty closed at 5,780.90, down 126.75 points.
On Wednesday, the 30-share BSE Sensex opened negative at 19,197.57 and proceeded to trade weak throughout the trading session. The index dropped more than 600 points. The fall was due to continuous profit booking witnessed in frontliners across board and weak global cues. The Sensex finally closed on a dull note by touching an intraday low of 18,515.30. It was the third biggest single day fall for the Sensex.
BSE Sensex tumbled 678.18 points, or 3.52% to close at 18,602.62, while the broad-based NSE Nifty closed at 5,561.05, down 219.85 points.
The 30-share BSE Sensex on Thursday opened positive at 18,724.11 and witnessed a volatile session on the back of selling pressure and global cues. The index traded in the negative terrain for most part of the day and later made a smart recovery in the late trade on the back of buying interest in heavyweights.
However, the Sensex lost its strength and slipped into the negative. Finally the index closed on a negative note after touching an intraday low of 18,182.83.
BSE Sensex closed with a loss of 76.30 points, or 0.41%, to close at 18,526.32, while the broad-based NSE Nifty closed at 5,519.35, down 41.7 points.
On Friday, the 30-share BSE Sensex ended on a positive note for the first time the week. After Thursday`s 678.18 points loss, the BSE Sensex opened on a strong note at 18,737.22 against the previous day`s close of 18,526.32. The optimistic momentum got more support from the decline in inflation figures and recovery in Asian markets. The Sensex touched a high of 18,910.46 during the day, raising the confidence of the bulls once again.
BSE Sensex closed with a gain of 326.55 points, or 1.76%, at 18,852.87, while the broad-based NSE Nifty closed at 5,608.60, up 89.25 points.
Economy Watch:
The annual rate of inflation, calculated on point-to-point basis, stood at 3.01% for the week ended Nov. 10, 2007, as against 3.11% for the previous week. The annual rate of inflation stood at 5.39% as on Nov. 11, 2006.
Source : myiris.com
