Sensex loses over 700 points as Indian bourses head south

March 31st, 2008 - 7:10 pm ICT by admin  


Mumbai, March 31 (IANS) The Indian equities market ended Monday deep in the red on sustained selling pressure in blue chips right from the opening bell. Weak global markets dampened sentiments further. Market sentiment was also dampened on reports from the current fiscal, the Institute of Chartered Accountants of India (ICAI) has asked companies to disclose losses reflecting their current value.

With weak cues from emerging markets, the Indian equity started the day with a sharp cut and kept going down.

The 30-share index of the Bombay Stock Exchange (BSE), the Sensex, opened at 16,266.66 points and closed at 15,644.44, a drop of 726.85 points or 4.44 percent.

The National Stock Exchange (NSE) S&P Nifty, which opened at 4,942.15 points, closed at 4,734.5, a drop of 207.50 points or 4.2 percent.

The BSE Midcap index, which closed at 6,427.82 points, slid by 94.97 points or 1.46 percent.

The BSE Smallcap index, which closed at 7,841.62 points, went down by 60.36 points or 0.76 percent.

However, on BSE, the market breadth was positive though with low trading volumes: 1,365 shares advanced, 1,291 declined and 43 maintained status quo.

The top gainers of the day were Cipla at Rs.219.75 up by 1.01 percent, Mahindra and Mahindra at Rs.695.65 gained 0.66 percent.

The top losers of the day included HDFC Bank at Rs.2,383.75 down by 8.79 percent, ICICI Bank at Rs.770.10 down by 7.79 percent and TCS at Rs.810.90 slid by 6.80 percent.

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