Vakrangee crashed 48% this week after the Company came under SEBI’s lens for alleged share price and volume manipulation. The crash has wiped out over 25,000 crore of investor wealth.
Status: Confirmed Uptrend
One up and four down days
Weekly Market Review:
Bears finally managed to break the eight-week winning streak of India’s benchmark indices, helped by a budget that left investors disappointed. The return of long-term capital gains tax on equity didn’t go down well with market participants. Continue reading “Weekly Big Picture – Carnage On D-Street As Bears Gain Control”
Key benchmarks post small losses; midcap and smallcap stocks slide again.
Daily Market Review:
Volatility loomed over the Indian market during the entire session, as India’s Finance Minister Arun Jaitley went through his budget speech.
With the announcement of the return of long-term capital gains tax rate, key indices dived for a brief period before recovering to close with small losses. The Nifty and the Sensex settled with losses of 0.1% and 0.16%, respectively. Continue reading “Daily Big Picture – LTCG Tax Irks Investors; Nifty Midcap Breaks 50-DMA”