Market ends with a deep cut for the second day running (Roundup)August 28th, 2008 - 6:06 pm ICT by IANS
Mumbai, Aug 28 (IANS)Indian equity markets for the second straight day closed in red on the back of weak global cues and rising crude oil prices.Banking, oil and gas, capital goods and PSU stocks dragged the market down.
The market started on a negative note and continued to trade in red till afternoon and ended the day with a deep cut.
The 30-share benchmark of the Bombay Stock Exchange (BSE) sensitive index (Sensex), which opened at 14,289.97 points, touched a low of 14,002.43 points before closing at 14,048.34 points. It went down by 248.45 points or 1.74 percent at the day’s close.
The National Stock Exchange (NSE) S & P Nifty, which opened at 4,290.75 points, closed at 4,214.00 points. It went down by 78.10 points or 1.82 percent.
The BSE Midcap index, which closed at 5,608.85 points, went down by 77.58 points or 1.36 percent.
The BSE Smallcap index, which closed at 6,782.30 points, went down by 77.61 points or 1.13 percent.
The market breadth was negative. On the BSE, 900 shares advanced, 1,719 declined and 95 maintained status quo.
Top gainers of the day included Maruti Suzuki at Rs.626.40 up 0.61 percent, Satyam Computers at Rs.404.35 up 0.52 percent and Ranbaxy Labs at Rs.511.40 up 0.51 percent.
Top losers of the day included Hindalco Industries at Rs.138.50 down 12.60 percent, Reliance Industries at Rs.2,147.85 down 3.45 percent and Reliance Infrastructure at Rs.965.75 down 3.15 percent.