Indian markets drop on heavy selling

February 22nd, 2008 - 6:50 pm ICT by admin  

A file-photo of Sensex

Mumbai, Feb 22 (IANS) In line with global trends, Indian equities markets ended the week on a negative note on the back of heavy selling across all sectors, especially banking, IT, power, oil and gas and automobiles. The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 17,515.62 points and notched a high of 17,526.80 before closing at 17,349.07. It lost 385.61 points or 2.17 percent at the day’s close.

The broader 50-share S&P CNX Nifty index on the National Stock Exchange (NSE), which opened at 5,183.40 points, closed at 5,110.75 after touching the day’s high at 5,184.00.

At day’s close, it registered a fall of 81.05 points or 1.56 percent.

The BSE Midcap index, which closed at 7,594.45 points, went down 74.48 points or 0.97 percent.

Similarly, the BSE Smallcap index, which closed at 9,595.41 points, went down 97.58 points or 1.01 percent.

On BSE, the market breadth was extremely low with low trading volumes. A total of 953 shares advanced, 1,773 shares declined and 69 shares remained unchanged.

Other Asian markets, barring Taiwan, also closed in the red Friday.

The top gainers of the day at BSE included Cipla at Rs.198.60, up 5.44 percent, Hindalco at Rs.192.00, up 1.35 percent, Maruti Suzuki at Rs.766.65, up 0.43 percent.

The top losers of the day at BSE were Bajaj Auto at Rs.2,295.60, down 4.78 percent, HDFC Bank at Rs.1,474.95, down 4.40 percent, Satyam at Rs.438.80, down 4.23 percent and ICICI Bank at Rs.1,099.40, down 3.89 percent.

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