BLOOD BATH IN STOCK MARKET

Continuing its falling spree Indian Stock Market on Monday also recorded hefty losses. Indian Currency Rupee plunged to record lows...further complicated the situation...Stock market wilt under heavy selling on rupee plummeting to new lows, with BSE Sensex slumping 291 points to over 4-month low and NSE Nifty diving 93 points to end at lowest level in 11 months. FII selling in shares of banks, auto, pharma and FMCG eroded Rs 1 lakh crore in investor wealth with Sensex ending at 18,307.52, a drop of 290.66 points or 1.56 per cent. Similarly, the 50-issue NSE CNX Nifty also dipped by 93.10 points, or 1.69 per cent, to end at 5,414.75 -- the lowst since September 2012.

769 POINTS LOSS ON 16

The S&P BSE Sensex on last friday crashed 769 points. This was the largest point-wise fall since July 6, 2009, when the index plunged by 869.65 points. Similarly, the wide-based CNX Nifty of the NSE slumped by 234.45 points, or 4.08 per cent, to end at over 4-month low of 5,495.10. It also registered its largest fall in last four years while closed it closed at more than four-month low. Also, SX40 index, the flagship index of MCX-SX, closed at 11,083.52, down 428.63 points or 3.72 per cent.

The rupee fell below the 62 level for the first time, plummeting to 62.03 against the dollar, after the Reserve Bank of India announced additional steps on Wednesday to restrict foreign-exchange outflows and gold imports. The markets were also spooked by expectations that an improving US economy would lead to a flight of foreign capital from the domestic markets. The stock markets were jolted by weakness in global stocks after a steep fall on Wall Street yesterday as jobless claims declined to the lowest level since 2007, renewing concerns that the US Federal Reserve would start withdrawing its stimulus from as early as next month.

AGAIN OUT OF TRILLION DOLLAR CLUB

Indian stock market moved out of the trillion-dollar league today as equities crashed, pulling down the total valuation of all listed companies to USD 985 billion on fresh concerns about the US stimulus withdrawal, and the rupee plunging to a historic record low of 62. Market capitalisation of all the listed companies stood at Rs 60,73,881.22 crore as stocks witnessed bloodbath that dragged down the BSE 30-stock benchmark, Sensex, by 769.41 points to 18,598.18 - its biggest fall in 4 years.

India had first entered the trillion-dollar club in June 2007, but moved out in September 2008, amid the global slowdown. It again got back into the elite league in May 2009 and had largely remained there since then, except for some brief periods including once in 2012. The rupee weakness has been a key force behind the dollar -valuation plunge in the recent months. Since the beginning of the current fiscal in April 2013, though the rupee valuation of Indian stock market has fallen by nearly 5 per cent, its dollar valuation has plunged by 19.76 per cent. The rupee has depreciated by over 13 per cent during this period. With India out of this league, only 13 stock markets across the world now enjoy a trillion-dollar status, led by the US (an estimated USD 20 trillion). Others in this club are UK, Japan, China, Canada, Hong Kong, Germany, France, Switzerland, Australia, South Korea, Nordic region and Brazil. Markets like Russia, Spain and South Africa have also moved out of this club after enjoying a trillion-dollar status in the past, while at least three others -- Brazil, South Korea and Nordic region markets -- are maintaining this level with small margins.

263 STOCKS @ 52 WEEK LOWS

In line with a weak stock market where benchmark... as many as 263 stocks hit their respective one-year lows on BSE today. Bluechips SBI, ICICI Bank, Punjab National Bank (PNB), Larsen & Toubro, HDFC Bank, BHEL and Jaiprakash Associates were among the stocks that touched their 52-week. Shares of SBI fell 2.60 per cent to Rs 1,530.40, while ICICI Bank was down 5.07 per cent to Rs 815.10. PNB slipped 4.04 per cent, L&T (2.43 per cent), HDFC Bank (0.93 per cent) and BHEL (2.45 per cent). In contrast, 39 stocks, including HPC Biosciences and Lifeline Drugs, scaled their one-year high. In the broader market, the Sensex ended the day at 18,307.52, down 290.66 points or 1.56 per cent. Besides, 11 of the 13 sectoral indices also saw weakness and fell in the range of 0.26-3.40 per cent.
"Carnage continued in markets as Nifty slipped nearly two per cent and breached the psychological mark of 5,400. "Though several measures were announced by the RBI in the recent past but as of now, the relentless decline in rupee is not showing any sign of slowing down and testing new lows with every passing day," said Jayant Manglik, President Retail Distribution, Religare Securities. "On technical front, 5,300 spot is the next crucial support so we may see some pause around that zone. Any recovery will be short-lived until some considerable changes in macroeconomic won't take place," he added. Among the 30-Sensex components, 24 of them ended the day with losses, led by Bharti Airtel that tanked 5.51 per cent.