Equity markets continue downslide (Roundup)August 19th, 2008 - 6:54 pm ICT by IANS
Mumbai, Aug 19 (IANS) Indian equity markets continued their losing streak and closed in the red for the fifth day running, on the back of weak global cues.Selling pressure was witnessed by all the sectors. Except power and banking, all the sectoral indices ended the day at a loss.
The market started on a downslide and continued to fall till afternoon. It recovered somewhat in the last hour of trading.
The 30-share benchmark index of the Bombay Stock Exchange (BSE), the Sensex, which opened at 14,517.76 points, touched a low of 14,368.72 points before closing at 14,543.73 points. It went down by 101.93 points or 0.70 percent at the day’s close.
The S&P CNX Nifty index of the National Stock Exchange, which opened at 4,393.10 points, closed at 4,368.25. It went down by 24.80 points or 0.56 percent.
The BSE Midcap index, which closed at 5,766.32 points, went down by 15.48 points or 0.27 percent.
The BSE Smallcap index, which closed at 7,012.74 points, went down by 23.87 points or 0.34 percent.
The market breadth was negative. On the BSE, 1,107 shares advanced, 1,514 declined and 90 maintained status quo.
Top gainers of the day included Reliance Infrastructure at Rs.972.35 up 2.26 percent, Hindalco Industries at Rs. 129.65 up 2.08 percent and ICICI Bank at Rs. 665.00 up 2.01 percent.
Top losers of the day included ACC Ltd at Rs.594.40 down 5.78 percent, Maruti Suzuki at Rs.641.20 down 3.90 percent and HDFC at Rs. 2,359.75 down 3.24 percent.