Market ends in loss, but recovers after Left pull-back (Roundup)July 8th, 2008 - 6:52 pm ICT by IANS
Mumbai, July 8 (IANS) The Indian equities market ended the day in the red yet again. However, spurred by the decision of the Left parties to withdraw support to the Congress-led UPA government, it came off lower level after sharp fall in the early trade. The market started on a weak note and extended its loss by afternoon. But soon after the left parties’ announcement to pull back support to the UPA government came in, the market started recovering and ended the day with minimal loss.
The 30-share benchmark of the Bombay Stock Exchange (BSE) sensitive index (Sensex) opened at 13,292.80 points, touched a low of 13,049.96 before closing at 13,349.65 points. It went down by 176.34 points or 1.30 percent at the day’s close.
The National Stock Exchange (NSE) S & P Nifty, which opened at 4028.70 points, closed at 3988.55 points. It went down by 41.45 points or 1.03 percent.
The BSE Midcap index, which closed at 5,315.99 points, went down by 23.82 points or 0.45 percent.
BSE Smallcap index which closed at 6,562.62 points went down by 130.39 points or 0.46 percent.
The market breadth was negative. On BSE, 1,156 shares advanced, 1,417 declined and 83 maintained status quo.
The gainers of the day were ACC at Rs.527 up by 6.21 percent, Mahindra and Mahindra at Rs.515.80 gained 3.92 percent, and NTPC at Rs.161.20 went up by 3.60 percent.
The top losers of the day included Wipro at Rs.419.70 down by 4.61 percent, Tata Motors at Rs.376.35 lost 4.13 percent and Infosys at Rs.1736 down by 3.62 percent.