Market continues its downslide

May 26th, 2008 - 6:25 pm ICT by admin  

A file-photo of Sensex

Mumbai, May 26 (IANS) The Indian equities market for the third consecutive day continued its downslide tracking weak Asian markets. Banking, capital goods and metal stocks suffered losses. With weak cues emerging from global markets, the domestic market started the day on negative zone and by mid-afternoon extended its loss and continued the sliding trend till the end of the trading session.

The 30-share benchmark of the Bombay Stock Exchange (BSE) sensitive index (Sensex) opened at 16,468.32 points, touched a high of 16,498.24 before closing at 16,348.50 points. It went down by 301.14 points at the day’s close or by 1.81 percent.

The National Stock Exchange (NSE) S & P Nifty, which opened at 4953.60 points, closed at 4875.05 points. It went down by 71.50 points or by 1.45 percent.

The BSE Midcap index, which closed at 6,760.77 points, went down by 176.34 points or 2.54 percent.

BSE Smallcap index, which closed at 8,318.20 points went down by 199.23 points or 2.34 percent.

The market breadth was negative. On BSE, 667 shares advanced, 2043 declined and 48 maintained status quo.

The top gainers of the day were Infosys at Rs.1886.40 which went up by 3.29 percent, Bharti Airtel which at Rs.863.15 gained 3.15 percent, and TCS at Rs.958.80 that surged 2.69 percent.

The top losers of the day included Jaiprakash Associate at Rs.224.40 down by 5.22 percent, Ambuja cements at Rs.96.65 slid by 5.38 percent, BHEL at Rs.1656 went down by 5.21 percent.

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