Reuters - The BSE Sensex on Monday posted its worst monthly fall in more than two years, tracking weak global markets as anti-government protests in Egypt led to risk aversion, with inflation and rate rise fears further dampening sentiment.
Michael Johnston submits:The anti-government protests in the streets of Egypt have dominated the headlines for the last week, as hundreds of thousands of Egyptians have continued to push for the resignation of their long-standing president. While the protests have been generally peaceful to this point, the demonstrations have cast an uncertain future over the north African country.
Equitymaster submits: Indian stock markets had an extremely weak session today attributed to negative global cues. The BSE-Sensex closed below the psychological 18,000 barrier for the first time since the start of the new financial year 2011-12 (FY12). The markets opened in the red and selling pressure pushed the indices well below the dotted line.
By Equitymaster: Indian stock markets had a weak outing today as sentiment was mainly negative throughout today's session. Indices opened in the red and continued to trade below the dotted line on profit-booking in index heavyweights. It seems that investors are choosing to play it safe ahead of key announcements next week. Next week will see the announcement of the Union Budget as well as the monetary policy of the Reserve Bank of India (RBI).
By Equitymaster: The Indian stock market had a negative start to the week and the month of October. This was on account of lingering concerns about the prospects of the Eurozone. The indices opened on a negative note, and selling pressure on index heavyweights kept them below the dotted line. While the BSE-Sensex closed lower by around 302 points (down 1.8%), the NSE-Nifty closed lower by around 94 points (down 1.9%).
Equitymaster submits: All attempts to claw back into the positive territory during the closing hours were thwarted and consequently, the benchmark indices in the Indian stock market ended the first day of the week in the red. BSE-Sensex (ISXIF.PK) edged lower by around 140 points, also ending below 19k whereas NSE-Nifty closed around 50 points below its previous closing.