Business Daily from THE HINDU group of publications
Friday, Nov 02, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Friday, Nov 02, 2007 ePaper | Mobile/PDA Version |
|
|
|
|
|
|
|
|
|
|
Home Page
-
Stock Markets Industry & Economy - Petroleum Crude triggers profit booking on markets
Our Bureau Mumbai, Nov 1 Despite the US Fed rate cut triggering an early rally, stocks ended lower on Thursday as profit-booking and anxiety about world crude oil prices took over. The volatile Sensex fluctuated by over 560 points during the day before closing 113.64 points lower at 19,724.35. “Basically it was due to the crude oil prices the markets reacted negatively. The level of buying activity also came down, pushing the Sensex down,” said the research head of a Mumbai-based broking house. Around mid-day, crude oil had touched $96.24 a barrel. Marketmen said the nervousness on account of spurting crude oil prices triggered profit-booking in the later part of the day. “The Fed rate cut was the reason why the markets opened with a positive gap, and now that markets have reached such high levels people are looking to pitch their positions,” said the head of equities at a financial brokerage firm. The major sectoral indices were all in red with BSE-Realty down 2.96 per cent, Auto (2.10 per cent), BSE-Bankex (1.84 per cent), and FMCG (4.16 per cent). The scrips which fell included Maruti Suzuki which dipped 6.51 per cent, HUL (6.43 per cent), Bharti Airtel (6.32 per cent), Reliance Energy ( 5.30 per cent), Hindalco (4.28 per cent), ITC Ltd ( 4.07 per cent), and Reliance Industries (3.99 per cent). The major gainers include ONGC, which went up by 6.60 per cent; L&T (4.29 per cent), ICICI Bank (3.33 per cent), Reliance Communications (2.42 per cent), and Ranbaxy Lab (2.06 per cent). Small, mid-cap stocks in limelight Sensex at 20K, but most stocks miss the bus RBI policy pushes Sensex down Oil price a global economy risk More Stories on : Stock Markets | Petroleum
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|
