Business Daily from THE HINDU group of publications
Friday, Jun 20, 2008
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Business Daily from THE HINDU group of publications Friday, Jun 20, 2008 ePaper | Mobile/PDA Version | Audio |
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Stock Markets Industry & Economy - Economy Government - Politics Sensex drops 334 points as selling continues Our Bureau
Mumbai, June 19 Weak Asian markets, inflationary woes and uncertainty regarding the nuclear deal continued to dampen market sentiment on Thursday for a second consecutive day. The Sensex dipped 334.32 points at 15087.99 levels and the Nifty shed 1.71 per cent at 4504.25 levels. Across-the-board selling saw all key indices end the day in the red. Banking, realty and capital goods were among the worst hit counters. The biggest losers were Ranbaxy, Reliance Infrastructure, BHEL and Larsen & Toubro. The worst-hit counters were down on the expectation that inflation numbers, to be announced tomorrow, would enter the double digit zone shortly, said Mr Alex Mathew of Geojit Financial Services. The market breadth remained negative as 1,804 shares declined and 842 advanced. The only three gainers among the blue-chip stocks today were Mahindra & Mahindra, Wipro and Cipla. The rescheduling of the meeting between the Government and Left party members on the Indo-US nuclear deal continued to be on top of the mind of investors. Asian markets were also in the red, with the Shanghai Composite down 3.34 per cent, Hang Seng down 2.26 per cent and Nikkei down 2.23 per cent. The Dow, too, opened down 1.08 per cent. FIIs were net sellers today to the tune of Rs 598.36 crore, while the domestic institutions bought for Rs 141.07 crore. Where have all the bulls gone? Another dismal week on the cards Adding fuel to fire: Sensex tumbles on inflation fears, weak global cues More Stories on : Stock Markets | Economy | Politics
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