Market ends deep in red, Sensex slips below 17,000

May 22nd, 2008 - 6:32 pm ICT by admin  

A file-photo of Sensex

Mumbai, May 22 (IANS) The Indian equities market ended the day deep in red and fell below 17,000 mark amidst rising crude oil prices and mirroring weak global markets. With weak cues from emerging markets, Indian equities started the day with a negative gap and continued the sliding trend.

The 30-share benchmark of the Bombay Stock Exchange (BSE) sensitive index (Sensex) opened at 17,104.59 points and notched a high of 17,104.59 before closing at 16,907.11 points. It went down by 336.05 points or 1.95 percent.

The National Stock exchange S&P Nifty which opened at 5117.00 closed at 5025.45 after touching a day’s high of 5118.90. It went down by 92.20 points or 1.80 percent.

The BSE Midcap index, which closed at 7,049.25 points, went down by 98.80 points or 1.38 percent.

BSE Smallcap index, which closed at 8,663.84 points, slid by 125.14 points or 1.42 percent.

On BSE, the market breadth was negative with low trading volumes - 1014 shares advanced, 1684 declined and 67 maintained status quo.

The only gainer of the day was Hindalco at Rs.197.65, up by 0.20 percent.

The top losers of the day included Tata Motors at Rs.661.45 down by 3.98 percent, Reliance Infrastructure at Rs.1322.95 down by 3.97 percent and ICICI Bank at Rs.880.40 slid by 3.39 percent.

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