It's really recession - Maruti sales decline 27.4%

India's no. 1 car market today said that its sales have declined 27.4% during November.

The domestic sales are down 26.9% at 47,704 unites against 65,216 unites same month last year.

Exports grew 11.7% at 5007 units from 4483 units.

This is basically due to decrease in consumer spending. People are now not willing to spend much on luxories.

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Sensex surges over 300 pts on PM’s assurance.

The 30-share index, which opened higher by 160 points, surged further by 323.93 to 8,774.94 points despite weak global markets.

The benchmark Sensex soared by over 320 points in late morning trade on Friday after Prime Minister Manmohan Singh assured that country will sustain a growth rate of 8% despite the adverse impact of the global financial crisis.

The 30-share index, which opened higher by 160 points, surged further by 323.93 to 8,774.94 points despite weak global markets. The BSE barometer had tanked over 2,100 points in the last seven trading sessions.

The wide-based National Stock Exchange’s Nifty moved up by 95.25 points at 2,648.46 points.

“We have the ability to sustain a growth rate of about eight per cent. And we will do so,” the Prime Minister said at the Hindustan Times Leadership Summit here.

Marketmen said sentiment turned better after government data showed inflation declined by 0.08% to 8.90% during the week ended 8 November.

Country’s most valuable company Reliance Industries gained Rs19.40, or 1.83%, at Rs1,078, while ONGC stocks gained Rs24.50, or 3.77%, at Rs674.90 mainly contributed rise to the Sensex.

SBI stocks gained Rs26.75, or 2.45% at Rs1,119.30.

Other gainers were BHEL, Larsen and Toubro, Bharti Airtel, DLF Ltd, Grasim Industries, Maruti, Mahindra, Mahindra and Sterlite Industries. Tata Power and Tata Consultancy. - Mint

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Why is Indian market higher today ?

Markets opened in green and didnt change its colour. " Yet in Green " (+54 Points on Sensex @ 2.10 pm.)

Markets had a flat opening of 30 odd points on Sensex and 17 odd points on Nifty.

This is just a short covering. 

More over we saw some buying comming in way of some of the bluechip scrips.

IT is down due to rupee fluctuation.

Now markets are starting to give up all it gain.

This is a profit booking section.

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Sensex tumbels , now below 9K mark.

Sensex is under extreme preasure.

It has witnesed an intraday fall below 9K levels. Now down 314 points (2.31 Pm.)

Equities were witnessing selling pressure on Tuesday as traders created short positions after benchmarks breached support levels.

I think markets may see a new low in comming days.

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Stock market report card.

Markets were extremely under pressure. Sensex for the first time since mid 2005 went below 8000 mark.
Recession news coming from all over the world.
Employees loosing their jobs day by day.
Crude crash and is settled well below 70$.
Quarterly results were out few company's had disappointing results. While some cheered.
Our reality major Unitech saw a intraday fall of 60% last friday by making its life low of 26.
Inflation is cooling down which is a good sign. Inflation below 11% at 10.63.
Today RBI cuts rate: -
SLR by 100 Bps.
CRR by 100 Bps.
Repo Rate by 50 Bps.

PS. Markets yet below 10K mark.

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Stock markets Report Card.

Nikkei Japans benchmark Index slides to 26 Years low.
Australians stocks at 4 Years low.
World stocks tumble to 5 Years low.
BSE fells all the above pinches and goes bellow 8000 Levels.
Gold prices fall despite of Festive season.
No clear direction where are v headed.

Result Updates.
ICICI banks Q2 quite a reasonable one , its up 1.1%.
SBI posts 40.4% rise in Q 2 profits.

Good results but worst performer today SBI. Its down in 3 digits.

More buzz.
State Bank of India, India's top bank, plans to open 1,500 or more branches this year, Chairman O.P. Bhatt said on Monday, after the bank posted a forecast beating 40.4 percent rise in quarterly net profit.

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