Thebullishtrends: Today BSE Sensex closed at 14,809.49 points with a loss of 951.03 points. Sensex has lost 1000 points in the last session banking shares like ICICI Bank,HDFC Bank,Rcom and Tata Steel stocks faced stiff selling pressure. The entire market breadth was negative. It was the second biggest fall today. Small cap and Mid Cap stocks lost more than 6%. Global cues are very weak as US Financial markets were very weak due to the financial crisis from the US investment bank Bear Stearns, as JP Morgan Chase gave offer to buy for $2 dollor per share, and US Federal has announced a cut in discount rate in an emergency meeting on Sunday.Asian stocks were closed in a weak note due to fears about rising crude oil rates,lower the dollor rate and rising in gold prices may push the countries into the higher inflation rate. An important meeting between UPA-Left is going on as per the latest reports Govt has is going to hand over the nueclear deal papers to Left. The reult of the meeting yet to know.
The entire market trend is very weak. On BSE 2,396 stock prices declined as compared to 289 stock prices rose and 43 stock prices remain unchanged.
