Sensex extends losing streak, ends 338 pts down

Sensex extends losing streak, ends 338 pts down

The bears went on a rampage on the major Indian bourses for the third successive session as global markets dampened investor sentiment today. But then, with Asian markets tumbling on concerns over mounting credit losses, the trend back home was not expected to be any different.

Trading in the red right through the session, the Sensex ended with a huge loss of 338.32 points or 2.31% at 14,324.29. The barometer, which opened with a negative gap of over 100 points at 14,557.33, plunged to a low of 14,265.38 in afternoon trade today. The Nifty, which breached a few crucial support levels, touched a low of 4272.75 and settled at 4290.30 with a loss of 109.95 points or 2.5% at 4290.30.

Stocks cutting across sectors were seen struggling for support today. However, losses posted by oil, realty, power and capital goods stocks were more pronounced. PSU, bank, metal and pharma stocks closed with sharp losses. IT and auto stocks managed to buck the trend for a while before they too drifted down due to lack of support at higher levels.

Among Sensex stocks, only Tata Motors (1.35%) and Ranbaxy Laboratories (0.25%) closed in the positive territory. Nifty stock Punjab National Bank (0.55%) ended with a modest gain.


Bharti Airtel ended with a loss of 4.4%. Reliance Infrastructure eased by 4.15%. Reliance Industries on unconfirmed reports that the government may recommend a levy of export tax or ban petroleum exports from its Jamnagar facility.

ONGC, Tata Power, DLF, Jaiprakash Associates, Mahindra & Mahindra, BHEL, NTPC, Maruti Suzuki, HDFC and ICICI Bank lost 2% - 4%. Hindalco, HDFC Bank, Larsen & Toubro, Tata Consultancy Services, ITC, State Bank of India, Tata Steel, ACC, Grasim Industries, Hindustan Unilever, Reliance Communications, Wipro and Sterlite Industries also ended with sharp losses. Infosys Technologies and Satyam Computer Services ended with modest losses.

Suzlon Energy, HCL Technologies, Zee Entertainment, Sun Pharmaceuticals, Ambuja Cements, Power Grid Corporation, SAIL, Cipla, Reliance Petroleum, ABB, Cairn India, Idea Cellular, Tata Communications, Siemens and Nalco closed on a weak note.

Bajaj Finance, KSK Energy, India Bulls Financial Services, Yes Bank, REI Agro, Reliance Capital, India Bulls Real Estate, Voltas, Jai Corp, Mangalore Refineries & Petrochemicals, IVRCL Infrastructure and Sesa Goa were some of the prominent losers from BSE 'A' Group.
A number of midcap and smallcap stocks also posted sharp losses. The market breadth was weak once again. On BSE, declines outscored advances by 2 to 1.

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The Web billionaires
GMR Energy to acquire coal mines in Indonesia, Africa

Infosys renews insurance policy worth Rs 24K crore
NTPC in JV for 1,980 MW power plant
Orchid will sell 15-20% stake in research unit
Gujarat NRE plans rights issue at Rs 1,000/shr
India in talks with US companies on nuclear trade

Indian crude at $99, oil firms relieved
Govt re-starts attempts to sell IFCI stake
Banks sitting on Rs 1,200 cr in idle a/c
HCL follows Future Group, plans $1 bn venture fund
GMR to invest Rs 10K cr to set up nuclear power plant

Essar Oil to raise $5 bn loan from 4 banks
Indian Hotels up room rent by 8-10 pc from Sept 1
Raj TV plans print foray, to raise funds - paper
Aviva to have 49% foreign stake when govt raises FDI ceiling
Velankani group to set up Rs 13 bn SEZ in Sriperumbudur

Trade likely weak ahead of IIP, SGX Nifty at 88 pts discount
Aviva Life Insurance raises capital base by Rs 344 cr
India PC market records 2.085 mn shipments in 2Q 2008, overall 8.1% growth
Poverty in India declines by 27 %: UN


Source:ET, Sify, BS, BL etc

Inflation drops to 12.10%

Inflation drops to 12.10%
Inflation dips further to 12.1 per cent

Inflation : 12.10 % Vs 12.34%

Inflation fell for the third week in succession to close at 12.10 per cent as on August 30 from 12.34 per cent recorded a week earlier as prices of most food articles moderated. As per a poll on Wednesday, India's annual inflation rate was expected to have eased for the third consecutive week, with respite provided by softening of global crude prices. The wholesale price index was forecast to have risen 11.96 per cent in the 12 months to August 30, lower than the previous week’s rise of 12.34 per cent, according to the median estimate of 13 economists. Shubhada Rao, chief economist at Yes Bank, for instance, who forecast 11.96 per cent, said a relatively higher reading a year earlier would also limit the number. “Recent weeks have seen inflation stabilise. We expect it to peak in the third quarter and given the current trend it may peak around 13 per cent,” she said.

Talking about the softening inflation, commerce minister Kamal Nath last week had said the government’s supply-side measures had begun to take effect and inflation should soften from the current levels. The finance ministry also believes inflation will come down to single digit by the end of this fiscal if oil prices keep softening in the international markets. "If oil prices go below $100 per barrel, the wholesale price index inflation will even come down to 5-6 per cent by the end of the current fiscal,” Arvind Virmani, chief economic adviser in the finance ministry, told a news agency recently. "I am reasonably confident that within a year, inflation will be back to normal. In the short-term, it depends on oil prices to a large extent and we have seen oil prices coming down,” he said. He also said food price inflation has not been that severe in India when compared with the global situation, as prices of primary food articles such as fruits, vegetables, tea and lentils had gone up by 6.04 per cent during the 52-week period ended Aug 23. "It is partly because of the nature of our economy, which is still isolated from the global situation except in one or two commodities like edible oils as we import some 60 per cent-plus of our overall edible oil requirements,” he said.

Source:ET

What is the Big Bang?

What is the Big Bang?

The European Organisation for Nuclear Research, known as CERN, will on Wednesday begin an experiment to recreate conditions just after the Big Bang, which scientists believe gave birth to the universe. ( Watch ) Its Large Hadron Collider (LHC) will seek to collide two beams of particles at close to the speed of light. Scientists plan to circulate a beam in one direction around the accelerator on Sept. 10, and later send beams both ways to cause collisions. Following are some facts about the Big Bang and CERN's particle-smashing experiment:

RECREATING THE BIG BANG: The final tests involved pumping a single bunch of energy particles from the project's accelerator into the 27-km (17-mile) beam pipe of the collider and steering them counter- clockwise around it for about 3 km (2 miles). The collider aims to simulate conditions milliseconds after the "Big Bang" which created the universe around 13.7 billion years ago. The collisions, in which both particle clusters will be travelling at the speed of light, will be monitored on computers at CERN and laboratories around the world by scientists looking for, among other things, a particle that made life possible. The elusive particle, which has been dubbed the "Higgs Boson" after Scottish physicist Peter Higgs who first postulated nearly 50 years ago that it must exist, is thought to be the mysterious factor that holds matter together.

WHAT IS THE BIG BANG? Recreating a "Big Bang," which most scientists believe is the only explanation of an expanding universe, ought to show how stars and planets came together out of the primeval chaos that followed, the CERN team believes. Its essential feature is the emergence of the universe from a tiny speck about the size of a coin but in a state of extremely high temperature and density. The name "Big Bang" was coined in 1949 by British scientist Fred Hoyle to disparage a then emerging theory about origins that countered his own "steady state" view: that the universe had always existed and was evolving but not expanding. According to the Big-Bang model, the universe expanded rapidly from a highly compressed primordial state, which resulted in a significant decrease in density and temperature. Soon afterward, the dominance of matter over antimatter (as observed today) may have been established by processes that also predict proton decay. During this stage many types of elementary particles may have been present. After a few seconds, the universe cooled enough to allow the formation of certain nuclei. The theory predicts that definite amounts of hydrogen, helium, and lithium were produced. Their abundances agree with what is observed today. About 1,000,000 years later the universe was sufficiently cool for atoms to form.

WHAT IS CERN: CERN, the European Organisation for Nuclear Research, is one of the world's largest and most respected centres for scientific research. Its business is fundamental physics, finding out what the Universe is made of and how it works. Founded in 1954, the CERN Laboratory sits astride the Franco-Swiss border near Geneva. It was one of Europe's first joint ventures and now has 20 Member States, plus 6 actively participant observers including the United States and Russia.

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To mimic the Big Bang one has to collide heavy elements like lead on lead or gold on gold, which will be done next year.

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BBC NEWS Science/Nature 'Big Bang' experiment starts well
'Big Bang' experiment/ Big Bang experiment gets underway - Sify.com

India's role in 'Big Bang' experiment
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Big Bang experiment goes on, proves rumours wrong - Express India
Big Bang experiment starts and the world doesn't end...yet ...
Digg - Big Bang Experiment Starts
Inside the big-bang machine - Cosmic Log - msnbc.com

Success for Big Bang experiment
Kalam says'Big Bang 'experiment' spells no trouble. - Yahoo! India ...
YouTube - Big Bang experiment - Large Hadron Collider
Zee News - Big Bang Experiment, End of World, LHC Experiment
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How important is the Big Bang experiment? - The Student Room
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Researchers Hope To Artificially Create Effects Of "Big Bang ...
Big Bang scientists rubbish doomsday reports - National News ...
Big Bang on earth but no Doomsday

Big-bang machine raises doomsday fears
Big Bang machine could destroy Earth
'Doomsday' rumour sets off panic -India-The Times of India


Source: All webs from the world.