Markets continue to trade with huge losses (Second Lead)June 27th, 2008 - 2:45 pm ICT by IANS
Mumbai, June 27 (IANS) The Indian equities market - trading with huge losses on the back of rising crude oil prices - slipped further Friday after new data released showed inflation touched a new high of 11.42 percent. A setback in stocks in Asia and the US, and a sharp spurt in crude oil prices above the $140-a-barrel-mark weighed heavily on the domestic bourses which pulled down the sensex barometer more than 600 points in the first hour of trade. Auto and banking stocks declined sharply.
At 12:30 p.m., the 30-share BSE Sensex was up by 457.14 points or 3.17 percent at 13,964.68. At the day’s low it touched 13,784.37
The market breadth was negative. On BSE, 453 shares advanced compared to 1,937 that declined and 53 that remained unchanged.
At the same time, the broader-based S&P CNX Nifty was down by 137.60 points or 3.19 percent at 4,178.25