Rising oil prices send equities markets down slippery slope (Roundup)May 20th, 2008 - 6:50 pm ICT by admin
Mumbai, May 20 (IANS) The Indian equities market ended the day in the red tracking weak global markets and rising global oil prices. With weak cues emerging from global markets, the domestic markets started the day in the negative zone. By mid-afternoon, they extended their losses and continued the sliding trend till the end of the trading session.
The 30-share benchmark index of the Bombay Stock Exchange (BSE), the Sensex, opened at 17,366.05 points and touched a high of 17,367.13 before closing at 17,230.18. It went up by 204.76 points at the day’s close or 1.17 percent, compared to its close Friday. The markets had been closed Monday on account of Buddha Jayanti.
The S&P Nifty index of the National Stock Exchange, which opened at 5,157.00 points, closed at 5,104.95. It went down by 52.55 points or 1.02 percent.
The BSE Midcap index, which closed at 7,106.06 points, went down by 23.64 points or 0.33 percent.
The BSE Smallcap index, which closed at 8,658.61 points, went up by 38.35 points or 0.44 percent.
The market breadth was positive though with low volumes. On BSE, 1,431 shares advanced, 1,292 declined and 66 maintained status quo.
The top gainers of the day included Satyam at Rs.494.60 up 1.32 percent; Tata Motors at Rs.678.35 up 1.28 percent; and Infosys at Rs.1,887.20 up 0.86 percent.
The top losers of the day included Jaiprakash Associate at Rs.256.00 down 5.22 percent; Reliance Infrastructure at Rs.1,394.40 down 4.53 percent; and BHEL at Rs.1,736.50 down 3.28 percent.
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