Markets end in the red on US bailout plan fears (Roundup)October 3rd, 2008 - 8:29 pm ICT by IANS
Mumbai, Oct 3 (IANS) Indian equities markets opened weak Friday and slid deep into the red by close, reflecting all round nervousness on weak global cues and fears that the US $700 billion bailout plan will not get approved by the US House of Representatives later in the night, analysts said.The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) closed at 12,526.32, down 529.35 points or 4.05 percent from its previous close Wednesday at 13,055.67.
The Sensex opened at around 12,900 nearly 150 points down from its previous close Wednesday.
Markets were closed Thursday.
The broader-based 50 share S&P CNX Nifty of the National Stock Exchange (NSE) finished at 3,902.50, down 48.25 points or 1.22 percent from its previous close Wednesday at 3,950.75.
The BSE mid cap index closed at 4,677.80, down 146.36 points or 3.03 percent from its previous close at 4,824.16.
The BSE small cap index closed at 5,465.40, or 141.40 points or 2.52 percent from its previous close at 5,606.80.
Sectorally metal, oil and gas, consumer durables and bank stocks were the biggest losers and there were no sectoral gainers.
Only three Sensex component stocks gained. Ranbaxy Laboratories Ltd. gained the most at Rs.263.85, up Rs.12.15 or 4.83 percent to Rs.251.70.
Mahindra and Mahindra gained Rs.8.60 or 1.70 percent to Rs.515.15 from Rs.506.55. Hindustan Unilever at Rs.256.15 gained Rs.2.05 or 0.81 percent from Rs.254.10.
Tata Steel was the biggest loser at Rs.393.80, down Rs.44.85 or 10.22 percent to Rs.438.65.
ICICI Bank at Rs.504.50, losing Rs.46.95 or 8.51 percent from Rs.551.45. Sterlite Industries at Rs.395.75 lost Rs.33.65 or 7.84 percent from Rs.429.40.
Reliance at Rs.1,760.95 lost Rs.146.30 or 7.67 percent from Rs.1,907.25.
Advances were 669 or 25.30 percent while declines were Rs.1924 or 72.77 percent and 51 or 1.93 percent remained unchanged.
The sentiment was negative throughout.