Business Daily from THE HINDU group of publications
Tuesday, Aug 07, 2007
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Business Daily from THE HINDU group of publications Tuesday, Aug 07, 2007 ePaper |
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Stock Markets Markets - Stock Markets
Our Bureau Mumbai, Aug 6 Weak global cues continued to pull down the markets, with the BSE Sensex closing down by 235.37 points or 1.55 per cent at 14,903.03, on Monday. The Sensex dropped to an intra-day low of 14,705.58 before recovering some lost ground by the close of the trading session. Weak international markets and continuing fears over the sub-prime mortgage issues in the US led to the sell-off on the domestic bourses. National Stock Exchange’s 50-share index closed down 1.41 per cent at 4339.5. “The US sub-prime mortgage problems seem to be moving into Asia, with some Australian and Asian hedge funds also getting impacted,” said Ms Shahina Mukadam, Head-Research, IDBI Capital Mkts Service. Realty, worst hit
All sectoral indices except the FMCG index closed in the red. Realty index was the worst hit. It fell over 3 per cent to 7,377.22. Metal stocks also declined as metal prices fell on the London Metal Exchange. The top losers on the BSE were Hindalco (3.05 per cent), ICICI Bank (3.03 per cent) and Maruti Udyog (2.95 per cent). The market breadth was negative with 1,107 stocks advancing and 1,497 declining. Foreign institutional investors were net sellers to the tune of Rs 1,395 crore, according to provisional figures on NSE.
Related Stories: Sub-prime lending crisis keeps every one on tenterhooks Sensex down 600 pts on global worries Sensex drops 541 on global fall More Stories on : Stock Markets | Stock Markets
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