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New Year Look Good for All

Good Morning friends,

Diwali vacation is over for businessman and routine started. Yesterday was the first working as as it iwas Labh Pacham. Fifth day of the New Year. Traditionally, from New Year day till fourth day, business remains closed. It’s on fifth day majority businessmen open their business. Some also go on seventh day. Majority of people go with fifth day.

We also open our business yesterday.

 

Things look good this new year. If I talk about India, BSE Stock index Sensex crosses 10000 again. It was below 8000 before diwali. In one week it added 2000+ points. It’s good sign. On other side, government also taking good actions like reducing CRR to 5.5 is really a good step towards adding more liquidity to the banks.

 

New Year looks good as on today. One more positive sign is that today Finance Minister P Chidambaram will meet a panel of bankers today, to review the current economic situation. He is likely to tell the public sector banks to bring down interest rates in order to boost flow of credit to the industry. Let’s see how it work out and help the industry as well as individual.

Sensex plunges below 8,000 mark for first time in three years

Indian stock markets crashed on Monday, with the benchmark Sensex plunging below the psychological 8,000 level in afternoon trading.

Tracking weak global trend, the benchmark Sensex lost over 750 points to hit an over three-year low of 7,939 in afternoon trade on fresh selling by funds.

At 12:52 p.m., the 30-share index, which fell by nearly 2,000 points in the past three sessions, slid by another 762.05 points or 8.76 percent at 7,939.02, a level last seen on November 2, 2005.

The wide-based National Stock Exchange’s Nifty also dipped below 2,400 points level and lost 255.50 points, or 9.89 percent, at 2328.50.

Selling pressure gathered momentum on the domestic stock markets largely due to meltdown in other Asian bourses, traders said.

Major losers, which pulled the Sensex down, were Grasim Industries, HDFC Ltd, State Bank of India, Larsen and Toubro, Tata Power and Wipro.

Bucking the trend, the country’s leading realty firm Unitech Ltd, which witnessed a free-fall in its share and plunged by over 51 percent on Friday, staged strong comeback after the company said it is seeking a probe by government and market regulator SEBI into its scrip’s fall.

DLF Ltd, country’s biggest realty developer company, also regained strength on emergence of low level buying and traded nearly three percent higher at Rs 213.90.

Meanwhile, Hong Kong’s Hang Seng index was down 5.17 percent, Nikkei shed 0.59 percent, while South Korean shares were down four percent in early trade. (ANI)

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Investors lose Rs 45 trillion since January

Good evening friends, I am just going home, it’s 10-30 pm here. I just finish my last task. You all know market is so down. I was reading news paper and this is what I read on NDTV profit.

            

wealth has seen an erosion of a whopping Rs 45 trillion since BSE barometer had touched the peak of 21,000 in January this year.

 

The total investor wealth, measured in terms of market capitalisation of all the listed companies together, on Friday dipped to about Rs 27,74,000 crore against close to Rs 73,00,000 crore on January 10, when the benchmark Sensex had scaled its life-time high.

 

The Sensex today witnessed its second biggest single day fall of over 1,000-points which wiped off over Rs 3.25

 

trillion since Thursday.  The combined marketcap had been Rs 31,00,607 crore at the end of the Thursday’s trade.

 

The Sensex settled the day below the 9,000 level, down by about 11 per cent, after nearly three years.

 

The combined market valuation of all the 30 stocks comprising the benchmark index Sensex stood at Rs 2,67,419.90 crore losing as much as Rs 1,71,000 crore in a single day. The Sensex companies command nearly half of total market valuation of all the listed firms.

 

Among the major losers, corporate behemoth Reliance Industries lost over Rs 29,038 crore in a single day with the scrip dropping over 16 per cent.

 

While PSU major ONGC’s market capitalisation fell over Rs 24,900 crore, Infosys fell by Rs 1,946 crore and telecom major Bharti Airtel lost over Rs 15,403.09 crore.

BSE Sensex at new 2008 low

Good Morning Friends,

BSE Sensex at record low for 2008. BSE Sensex is 2.8 percent down reach to new low for 2008.

The BSE Sensex shed 2.8 percent in opening deals on Friday to its lowest in more than 2 years after worries about global economic slowdown and its impact on corporate earnings had roiled Asian markets.

At 9:56 a.m., the 30-share BSE index was down 2.64 percent, or 257.60 points, at 9,514.10, after having fallen as much as 2.81 percent at open to its lowest level since June 2006.

The 50-issue NSE index fell 2.30 percent to 2,875.4. 

Husband seeks divorce as wife loses Rs 30L in market

Good Evening Friends,

I just talk about sensex down and it’s effect on gujaratis. Being Gujarati me too have suffered a lot because of down stock market. I just read shocking news related with the stock market impact on individual life. Husband seeks divorce as wife loses Rs 30Lakh in market. Stock market leads a married life towards divorce. Read the complete news below which I read on Times of India site.

 

The bloodbath in the stock market has not only led people to lose everything, it has also exposed cracks in relationships. A woman in Ahmedabad is in distress after her husband is talking of deserting her as she lost over Rs 30 lakh in the market in recent times.

 

“I am a 34-year old housewife. I am married for the last ten years and have one daughter. In my free time, I have been trading online in stocks and earned quite a lot. But recently in this bearish trend, my stocks are not doing well and I have run into losses to the tune of Rs 12 lakh.”

 

“I suppose, everyone who is into stock-trading is sailing in the same boat. But my husband is not ready to take this fact. He says that he is not going to support this loss. In fact, when I was making money in the market, he was enjoying its fruits and now when I’m passing through a bad market phase, he has washed his hands off. He is also saying that he would prefer to divorce me than shoulder my losses. It is a question of patience but he does not seem to be supportive at all. Please guide me on what to do?”

 

This woman apparently poured her heart out on a website launched by city-based psychiatrist Dr Hansal Bhachech for free counselling, claimed to be the first of its kind in the country. She has sought help in this situation where she has not only lost money but is also struggling to keep her marriage.

 

“Many women who have taken to stocks are now facing twin problems – how to cut down their losses and cut flak from their respective families for losing their money,” says Dr Bhachech.

 

Gujaratis’ travel plans hits with Sensex down

Good Evening friends, it’s Saturday but I was so busy from morning. I was busy with the cancelation of our diwali vacation trip. My son Shivam Patel is having his Diwali vacation from Oct 24, 2008. Just one week remain for diwali vaction. It is holiday season once again but this time the crashing sensex leads everyone towards cut costs. Sensex below 10000 force Travelers like me to cancel the trips to manage with the losses.

                                           

This October, Diwali does not seems good for gujarati like me and rest of all too. Me and my family plan to travel abroad. I had invested money in the stock market thinking that during Diwali time it will go up. I thought I would withdraw the money and go to a foreign destination, but it’s over now and I have to cancel that plan.

 

For all those who had banked on the Sensex upswing and made plans to holiday abroad, the global meltdown proved to be a real dampener. I am sure there are many like me who need to cancle their diwali vacation trip. I and my family planed to go to Concord, Pismo beach and San Diego in California.

 

It’s not only me the only bitter holidaymaker. For a travel agency in Ahmedabad, it has been a far cry from last year when it was teeming with anxious clients inquiring about foreign tours. This year, business has fallen by as much as half and many are now calling in to cancel their bookings. If you talk to travel consultancy here, everyone will says it’s down by as much as 50 to 60 per cent.

 

Gujaratis comprise a major chunk of Indian tourists going to foreign destinations. But this year, the crashing Sensex and inflation have forced footloose Gujaratis to stay at home which is a huge blow to the travel industry.The global economic slowdown has definitely taken the bang out of Diwali so much so that even special offers and discounts have no takers.

 

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