Indian Stocks Drop the Worst in Two Years

January 28th, 2011
in econ_news

Econintersect (Mumbai):  January has another trading day to go, but, unless Monday sees a significant rally, this month will see the largest one month decline since the market bottom of March 9, 2009.  The decline in the BSE Sensex for the month thus far is 9.8% and the index is 10.3% below the high close on November 9, 2010.

Follow up:

Indian stocks have rallied 157% from March 9, 2009 to November 9, 2010 and at Friday's close remain 129% above the bottom.  However, when looking at the Sensex since early 2010, it is seen that the recent decline has given back approximately half of the gains for 2010 through November 9.

Mumbai sensex 1 year  

From The Times of India:

With concerns that rising prices and higher interest costs would hit profits, the stock markets declined for the third consecutive day and the BSE benchmark index looks set to post its biggest monthly loss since 2008. The main indices are now below their 200-day moving averages, a key indicator of support levels.

sensex dropped 288 points (in Friday trading) or 1.5% to close at 18,396 points while Nifty slid 1.6% to 5,512 points. All the key indices ended in the red. 

Sources:  The Times of India and Yahoo Finance 

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