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May 23, 2013

BSE Sensex tanks below 20k

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BSE Sensex
On Thursday, the Bombay Stock Exchange index Sensex tanked below 20,000 marks and the National Stock Exchange Nifty was also posted biggest percentage. The BSE Sensex closed at 19,674.33 shedding 387.91 points, or 1.93 per cent and broad-based Nifty closed at 5,993.90 points losing 127.45 points, or 2.09 per cent.

The stock market in India witness nose dive due to the poor quarterly report presented by the State Bank of India and possible cut in the stimulus packages by US Federal Reserve. The last week the BSE Sensex was gained around 500 points in a day, the biggest gain for the month. And the fall recorded on Thursday was another big fall witness. The sentiments of the investors were also rattled due to weak China manufacturing survey.

On the other hand, in the bullion market, the yellow metal was being seen at price fluctuations and similar case with the silver at the international market. The poor performance report by the State Bank of India for the quarter ending March has hit the sentiments of the investors, as the market started tumbling after the report was out.

It might take some time for the stock markets in India to recover from the posted loss on Thursday, as only hope if the RBI would go for further cut in the key interest rates as the headline inflation was seen moderating.


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