Yagnesh Kansara The fourth quarter of 2007 will be remembered as the most volatile in the history of the Indian capital market.
It was during this quarter that both the Sensex and Nifty recorded their biggest top five gains in a single trading session as well as their deepest intra-day falls.
The Sensex recorded its biggest single-day gain of 894 points (4.48%) on November 14 to close at 19,929, followed by its second biggest gain of 879 points (4.75%) on October 23, to close at 18,493. Similarly, Nifty recorded its top-most gain of 290 points (5.59%) in a single trading session on October 23 to close at 5,474 points. It recorded its second biggest gain of 242 points (4.26%) on November 14, to close at 5,938. The remaining three gains of 242 points, 242 points and 219 points were registered by Nifty on October 9, October 15 and December 24, respectively.
The period also saw the Sensex recording its biggest top four intra-day falls and Nifty registering its top three intra-day slips. The Sensex recorded its second biggest intra-day loss of 770 points (3.84%) on December 17, followed by a loss of 717 points (3.83%) and 678 points (3.52%) on October 18 and November 21. The Sensex recorded its biggest intra-day fall of 828 points (6.76%) on May 18, 2006.
The Nifty recorded its biggest intra-day loss of 271 points (4.48%) on December 17. It’s third and fourth biggest intra-day fall of 220 points ( 3.80%) and 208 points (3.75%) were also registered on November 21 and October 18, respectively.