Business Daily from THE HINDU group of publications
Friday, Jul 14, 2006
Business Daily from THE HINDU group of publications Friday, Jul 14, 2006 |
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Stock Markets Markets - Stock Markets Our Bureau
Mumbai , July 13 The benchmark index BSE-Sensex lost some of Wednesday's gains on apprehensions of a possible rate hike by Bank of Japan (BoJ) and weak Asian markets. Profit-booking by investors also led to the fall in Sensex, which closed at 10,858.50 points, down by 71.59 points or 0.5 per cent. The city bounced back to its normal routine after Tuesday's bombings that killed 200 people and injured over 800. The Nifty index also ended in red at 3169.30 points, down by 0.83 per cent.
Major losers
"IT and Tech sectors which were the major gainers yesterday, emerged as the major losers with shares of Infosys Technologies, Wipro and TCS all ending in red. Basically, after Wednesday's huge gains, the markets have consolidated their positions," said Dr K.D. Mehru, V-P, Equity Research, Khandwala Securities. Infosys Technologies lost 50.38 per cent to close at Rs 1,680.25. HDFC was down by 3.09 per cent at Rs 1,165.40 and Bharti down by 3 per cent at Rs 371.30 were the other losers. According to Morgan Stanley Equity Research report on Bank of Japan interest rates, it looks certain that rates will be hiked by 0.5 per cent. This will result in the excess reserves to decline to the level of required reserves. BSE Oil and Gas was the biggest loser amongst the indices to end at 5,401.05 points, down by 1.42 per cent. BSE Mid Cap and BSE Small Cap Index emerged as gainers among the sectoral indices.
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