Rising oil price casts shadow on Indian bourses again (Roundup)July 3rd, 2008 - 6:43 pm ICT by IANS
Mumbai, July 3 (IANS) Indian equity markets ended with deep cuts Thursday, giving up most of the gains made the day before. Equity markets fell around the globe as international crude oil price hit a new high of $144 per barrel. Realty, power, banking and metal stocks were the worst hit. All the sectoral indices at the Bombay Stock Exchange (BSE) ended the day in the red.
The market started on a weak note and started to fall rapidly in the first hour of trading. It recovered somewhat in afternoon trade.
The 30-share benchmark index of the BSE, the Sensex, opened at 13,530.68 points and touched an intra-day low of 12,934.92 before closing at 13,094.11. It went down by 570.15 points or 4.18 percent compared to its closing figure Wednesday.
The S&P CNX Nifty index of the National Stock Exchange, which opened at 4,094.60 points, closed at 3,925.75. It went down by 167.60 points or 4.09 percent from its previous close.
The BSE Midcap index, which closed at 5,161.76 points, went down by 149.54 points or 2.82 percent.
The BSE Smallcap index, which closed at 6,349.17 points, went down by 157.63 points or 2.42 percent.
The market breadth was negative. On BSE, 750 shares advanced, 1,876 declined and 59 maintained status quo.
The gainers of the day included SBI at Rs.1101.55 up 2.07 percent and ONGC at Rs.859.20 up 0.56 percent.
The top losers of the day included Tata Steel at Rs.675.45 down 11.30 percent; DLF at Rs.381.85 down 9.93 percent and Reliance Infrastructure at Rs.721.55 down 8.72 percent.
Tags: afternoon trade, bombay stock exchange, bse, crude oil price, deep cuts, globe, indian bourses, indian equity markets, international crude oil, metal stocks, roundup, sectoral indices, sensex, share benchmark index