Market touches new low of 2008 in continuing slidedown (Roundup)June 24th, 2008 - 6:32 pm ICT by IANS
Mumbai, June 24 (IANS) For the fifth consecutive day Indian equities market ended the day in the red on the back of heavy selling across key scrips. The Nifty and Sensex touched a new low of 2008. All the sectoral indices ended the day deep in the red.
The market started on a firm note under-performing global markets and continued to hold on to the initial gains till afternoon trade, but turned choppy after that and in the last hour of trading saw heavy selloff across key sectors.
The 30-share benchmark of the Bombay Stock Exchange (BSE) sensitive index (Sensex) opened at 14,313.33 points and touched a low of 13,991.31 before closing at 14,106.58 points. It went down by 186.74 points or 1.31 percent at the day’s close.
The National Stock Exchange (NSE) S & P Nifty, which opened at 4271.05 points, closed at 4191.10 points. It went down by 75.30 points or 1.76 percent.
The BSE Midcap index, which closed at 5,712.74 points, went down by 102.49 points or 1.76 percent.
BSE Smallcap index which closed at 7,006.42 points went down by 129.88 points or 1.82 percent.
The market breadth was negative with extremely low volumes. On the BSE, 719 shares advanced, 1924 declined and 64 maintained status quo.
The gainers of the day were HDFC at Rs.2266.20 which went up by 2.32 percent, Ranbaxy Labs at Rs.525.30 that gained 2.31 percent, and Reliance Industries at Rs.2066.20 which was up by 2.18 percent.
The top losers of the day included HUL at Rs.214.50 down by 5.32 percent, Tata Steel at Rs.711.25 lost 4.60 percent, and NTPC at Rs.155.700 down by 3.92 percent.