NIFTY & SENSEX FACED THE HUGE FALL

NIFTY & SENSEX FACED THE HUGE FALL FROM THEIR ORIGINAL POINTS
Due to the collapse in the US market the total Asian market had to face the same impact,That is same in our Indian market. No body can predict the right situation, even the corporate SHARE BROKERS cannot picture the path of the Sensex or Nifty. On March 3rd , 2008 it’s a biggest fall ever before, Sensex down about 900.84 points which makes 17,000 pts to 16,667.88 pts. The same in the case of Nifty, which faced 270.50 pts down and closed at 4,963 pts.
Which factor makes this critical situation: The main reason is the SECURITY TRANSACTION TAX (STT) that altered in the budget proposals for 2008-2009. This is a big negative to the market. The same budget proposal done the favour for AUTOMOBILE section, which makes that particular section in green indication. Some what FMGC and Pharma stocks maintains the stability, but the bank sector faced the bad impact. We have to consider one thing, that the step back in bank index is not a real thing. Yes, without the huge volume transaction it meet out the downfall, so it is not a natural happening. These things make a wrong perception to the public, which avoids the entry of NEW INVESTORS to the market and the existing marketers too keep silent and watching the moving of INDIAN MARKET.
Let we hope the following announcements may move the market in forward:
1. KOTAK MAHINDRA put a distribution tie-up with ORIENTAL BANK OF COMMERCE. Kotak Mahindra plans to approach their product in this bank outlet. It is very easy to reach out to retail investors.
2. ICICI BANK planned to open three new branches in UK within sixmonths. They are having already nine branches in UK addition to that these plan is in execution. So there is a possibility for consolidated hike in global operation.
3. IVRCL the construction firm announced their projects which includes the Rs.478.48crore contract on NARMADA VALLEY DEVELOPMENT authority .
So all over the Indian companies are having good annual reports which gives us the confident of stable market.