Amid mounting pressure from all quarters both the CM and the deputy CM of Maharashtra have offered to quit their offices. The first to offer his resignation was the deputy CM  R R Patil, and then the CM Mr.Vilas Rao Deshmukh also sent his resignation to the party high command and not to the Governor which is generally the norm. The 26/11 of Mumbai claimed more than 200 lives and injuring another few thousand.Sushil Kumar Shinde may be the next CM.

Meanwhile the markets opened up strongly in the day and traded above its last closing prices till 2PM and then the slide started.The political uncertaininty going on and CM and Deputy CM offering their resignations impacted the markets a bit.During the day Nifty touched 2830 levels and finally closed below the 2700 levels at 2687 points losing 68 points. Sensex also lost 252 points to close at 8846 levels.Most of the Asian markets closed in red today owing to global slowdown in the coming days.
Auto sector  made a big hit with dismal growth figures for the month of Nov 2008.2640 levels seems to be a good support level for Nifty in coming days. The European markets are also looking weak currently.The opening in US markets will decide further movement of the market tomorrow.
 

Powered by MightyAdsense

Related posts:

1. Markets Bounce Back After Initial Hiccups
2. Markets Wipe Out All Gains:Down By 570 Points,Intra Day Calls For Jul 4
3. Inflation Marches Ahead To 7.61%:Markets Lose 344 Points.
4. Markets Remain Up:Gains 91 Points,Intra Day Calls For Today
5. Markets Record Second Highest Intra Day Gain:Gains 928 points
6. Indian Markets Make A Smart Recovery After A Huge Fall,To Make Huge Gains Today