The market has been sliding since 8th January, and today it was the biggest slide of the In the history of Indian share markets.
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Here are the 10 biggest falls in the Indian stock market history:(rediff.com)Jan 21, 2008: The Sensex saw its highest ever loss of 1,408 points at the end of the session on Monday. The Sensex recovered to close at 17,605.40 after it tumbled to the day’s low of 16,963.96, on high volatility as investors panicked following weak global cues amid fears of the US recession.
May 18, 2006: The Sensex registered a fall of 826 points (6.76 per cent) to close at 11,391, following heavy selling by FIIs, retail investors and a weakness in global markets. The Nifty crashed by 496.50 points (8.70%) points to close at 5,208.80 points.
December 17, 2007: A heavy bout of selling in the late noon deals saw the index plunge to a low of 19,177 - down 856 points from the day’s open. The Sensex finally ended with a huge loss of 769 points (3.8%) at 19,261. The NSE Nifty ended at 5,777, down 271 points.
October 18, 2007: Profit-taking in noon trades saw the index pare gains and slip into negative zone. The intensity of selling increased towards the closing bell, and the index tumbled all the way to a low of 17,771 - down 1,428 points from the day’s high. The Sensex finally ended with a hefty loss of 717 points (3.8%) at 17,998. The Nifty lost 208 points to close at 5,351.
January 18, 2008: Unabated selling in the last one hour of trade saw the index tumble to a low of 18,930 - down 786 points from the day’s high. The Sensex finally ended with a hefty loss of 687 points (3.5%) at 19,014. The index thus shed 8.7% (1,813 points) during the week. The NSE Nifty plunged 3.5% (208 points) to 5,705.
November 21, 2007: Mirroring weakness in other Asian markets, the Sensex saw relentless selling. The index tumbled to a low of 18,515 - down 766 points from the previous close. The Sensex finally ended with a loss of 678 points at 18,603. The Nifty lost 220 points to close at 5,561.
August 16, 2007: The Sensex, after languishing over 500 points lower for most of the trading sesion, slipped again towards the close to a low of 14,345. The index finally ended with a hefty loss of 643 points at 14,358.
April 02, 2007: The Sensex opened with a huge negative gap of 260 points at 12,812 following the Reserve Bank of India decision to hike the cash reserve ratio and repo rate. Unabated selling, mainly in auto and banking stocks, saw the index drift to lower levels as the day progressed. The index tumbled to a low of 12,426 before finally settling with a hefty loss of 617 points (4.7%) at 12,455.
August 01, 2007: The Sensex opened with a negative gap of 207 points at 15,344 amid weak trends in the global market and slipped deeper into the red. Unabated selling across-the-board saw the index tumble to a low of 14,911. The Sensex finally ended with a hefty loss of 615 points at 14,936. The NSE Nifty ended at 4,346, down 183 points. This is the third biggest loss in absolute terms for the index.
April 28, 1992: The Sensex registered a fall of 570 points (12.77 per cent) to close at 3,870, following the coming to light of the Harshad Mehta securities scam.
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Perhaps, this can be good buying opportunity. But , then again nobody knows where this market will end up. I have been buying scrips in small quantity but prices are falling like brick.
Ambani brothers seemed to suffered most in the single day. Today, Reliance Natural (RNRL) came down with landslide of 23% at 157. Reliance Petro (RPL) also slided 17% ending at 171. Reliance Capital also lost 20% and closed at 1884. Reliance Communication lost 12% and closed at 613. Reliance Industry (RIL), the flagship of Mukesh Ambani group, also lost 9% closed at 2540.
Many liquid shares have lost more than 25% in one week. Essar Oil lost 31% in single day. TTML has lost 40 % in 10 days , from highs of 65 now it is sitting at 40. Mercator Lines (MLL) touched 186 10 days ago and today it closed at 120 and that too because of restricted lower circuit of 5%.
Analysts and experts are also shocked as such nasty fall was unexpected, and there are many reasons to ponder why this market fall. They also expect to market fall further 10-15 % but also not pessimistic about the bull run in long term.
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NIFTY , has been closing on lower side for last three trading sessions and on the candle stick chart it has appeared as Three Black Crows. Three black Crows is considered as the bearish reversal particular when the price has been in continuous uptrend, which is the case with NIFTY.Ordinarily one black candle indicate the interference in bullish trend , second black candle confirm bearish mood, perhaps by the way of profit booking and third consecutive black candle make the reversal obvious.
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