It's been the worst weekly performance for the markets. Today, the markets were very close to hitting the 10% circuit filter twice in the session, but pulled back off those lows. At one point, the Sensex was down over 1,000 points. The Reserve Bank was quick to step in with a 150 bps CRR cut, which includes a 50 CRR cut on October 6. But lower August Industrial Productivity numbers at 1.3% versus 10.9% YoY added to the pall of gloom. Even a lower inflation number at 11.80% and reassuring statements from Finance Minister P Chidambaram and Sebi Chairman CB Bhave failed to lift sentiment. The market finally closed with:
Sensex: 10,528 ( -800 points down )
Nifty: 3,280 ( -234 points down )
But guys, i think we made a good profit today by short selling, as we already assumed this situation in morning.
So guys, Stay connected with equitypandit.com and make profits even in this falling market.
