Markets today went into a downspiral, with the benchmark Sensex crashing 587 points to close at a one-year low of 25,696.44 owing to slower than expected GDP growth coupled with a global sell-off after a clutch of data showed China economy is in for more pain. The rupee recovered against the dollar though. In a significant development that could have far-reaching implications, the government today accepted the recommendation of the A P Shah committee that minimum alternate tax (MAT) should not be imposed on overseas portfolio investors retrospectively. Dismal numbers from the euro zone and Britain only added to the negative sentiment, brokers said. A sharp plunge in banking index amid margin worries over a likely race to reduce base rates contributed to the fall. The index loss was led by key stocks such as Axis Bank, ICICI Bank, SBI and RIL. The benchmark BSE Sensex cracked over 586 points, or 2.23 per cent, to end at 25,696.44, its lowest close since August 2014. The 50-share NSE Nifty too fell short of the 7,800-level by ending 185.45 points lower at 7,785.85. Selling was broad-based, which also spread to small-cap as well as mid-cap stocks, which fell up to 2.17 per cent.
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Parag Patil is a technical analyst and trading system designer with stock excel programmer. I hope the articles and live chart of nse future and mcx on this Website will be as helpful and profitable to you . I try to update and post new articles tips everyday. My motto is to encourage the traders, so that they should able to understand the technique views behind the moment of stocks. I have deeply analyzed with many technical indicator with parameter and added to my amibroker afl. And even taken backtest report which is never being implemented. Any of the analyst expect me. Seeing all this you may understand that my views is more technical than commercial. If you are profited by my views I fill happy.
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