Sensex nears bear mkt zone, below 25 k after 15 months

1. Sensex nears bear Mkt. zone,
below 25K after 15 months
Stocks Face Prospect Of Losing All Gains From May 2014

2. • The continuing slide in the Chinese markets -combined with weakness of
the rupee, strong selling by FIIs and below-normal monsoon -led to a 308-
point loss on Monday in the sensex which ended at 24,894, its lowest close
in 15 months. Ending below the psychologically important 25,000 mark,
the Indian market is now just 3.5% shy of a bear market territory .In market
parlance, a slide of 20% from a high takes the index into bear territory . On
March 4 this year, the sensex had touched an all-time peak of 30,000.A
slide of 20% from this level would take the sensex into a bear territory ,
which is from 24,000, or just 900 points below the current close. The
sensex is also just 4% above 23,971, the le vel it was on May 15, 2014, a
day before the announcement of the Lok Sabha election results that
brought the Narendra Modi-led NDA government to power.

3. Contd..
Since the day sensex peaked at the 30K mark intra-day , and the BSE's market
capitalisation touched a record level of Rs 106.1 lakh crore a day earlier,
investors have lost $225 billion, or about Rs 14 lakh crore with the BSE's
current market cap as of Monday standing at Rs 92.1lakh crore. During the
same time, foreign funds have net sold Indian equities worth about $3
billion, if one excludes about $2.3 billion that FIIs brought in when Daiichi
Sankyo sold its 8.9% stake in Sun Pharma through a block deal on April 21.
On Monday , FIIs net sold stocks worth Rs 827 crore. According to Vijay
Singhania, founder-director, Trade Smart Online, a discount broking firm,
global sentiments have taken a big precedence over domestic factors. “ And
in the next two weeks, several potential market-moving news, including the
possibility of a US interest rate hike, are expected. Moreover, markets are
increasingly getting concerned about the slowdown in the Chinese economy
and we believe that the sell-off in the domestic markets will continue until
China stabilises or clarity emerges on US rates,“ Singhania said.

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