Auspicious Diwali: Time to take profits off the table                       04 November 08

•  It was like horror on the Dalal street when the benchmark indices tanked by 1000 points consecutively on the 24^th Oct.2008 and 27^thOct.2008 and it seemed there was no end to this carnage as the BSE Sensex touched its lowest levels since 2005 i.e. 7697 levels. The same was the scenario across the global equity markets which witnessed massive cuts.  

• But the scenario changed when the key benchmark rate cuts were announced by China , Taiwan and the US Fed. Also back in India RBI sprung into action by reducing the Repo rate, CRR and the SLR requirement all at one go. The impact was a smart recovery of the indices from a low of 7697 to 10338 as on 3^rd Nov. 2008 , a recovery of almost 34% in a matter of 4 trading sessions. For more details Click here...