Markets end with a deep cut ahead of Independence Day (Roundup)August 14th, 2008 - 6:46 pm ICT by IANS
Mumbai, Aug 14 (IANS)Indian equity markets closed in the red Thursday for the third day running, ahead of the release of the weekly inflation data and rise in crude oil prices, which rekindled fears of inflationary pressure. The market started on a downslide and continued to fall, made some recovery by early afternoon but ended the day with a deep cut.
Capital goods, banking, realty shares dragged the market down.
The 30-share benchmark of the Bombay Stock Exchange (BSE) sensitive index (Sensex), which opened at 15,017.68 points, touched a low of 14,686.66 points before closing at 14,724.18 points. It went down by 368.94 points or 2.44 percent at the day’s close.
The National Stock Exchange (NSE) S & P Nifty, which opened at 4,524.20 points, closed at 4,430.70 points. It went down by 98.35 points or 2.17 percent.
The BSE Midcap index, which closed at 5,823.42 points, went down by 105.95 points or 1.79 percent.
The BSE Smallcap index, which closed at 7,110.44 points, went down by 119.33 points or 1.65 percent.
The market breadth was negative. On the BSE, 811 shares advanced, 1,849 declined and 70 maintained status quo.
Top gainers of the day included Infosys Technologies at Rs.1,625.20 up 3.95 percent, Tata Power at Rs.1,018.95 up 1.57 percent, and Satyam Computers at Rs.406.25 up 1.39 percent.
Top losers of the day included DLF at Rs.548.60 down 8.66 percent, Jaiprakash Associate at Rs.186.75 down 7.74 percent, and Reliance Infrastructure at Rs.1,067.85 down 7.72 percent.
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