Business Daily from THE HINDU group of publications
Tuesday, Dec 02, 2008
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Business Daily from THE HINDU group of publications Tuesday, Dec 02, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Stock Markets Markets - Stock Markets Our Bureau Mumbai, Dec. 1 After opening positive, the Sensex and the Nifty changed direction and closed more than two per cent lower on Monday following a spate of bad news from the domestic economy and the global equity markets. The Sensex ended 252 points down at 8,839 points while Nifty closed at 2682 down by 72 points. Market appeared to have welcomed the political developments following the terror attack. However, they were discouraged by the poor export and manufacturing figures. The October exports figure showed a dip by 12 per cent, the first fall in three and a half years. The Sensex opened strong with a positive gap of 70 points and touched a high of 9,326 but came under selling pressure as the European market opened weak around 1.30 pm. November automobile sales figures showed a 27 per cent decline in the number of vehicles sold by the auto major Maruti Suzuki. Other automobile manufacturers like Mahindra & Mahindra, Tata Motors and Bajaj Auto also reported drop in sales. BSE Auto index dropped sharply and closed 4.64 per cent lower. Maruti shares closed lower by more than 9 per cent; shares of other automobile manufacturers also closed in the red. The proprietary traders sold shares worth Rs 42 crore according to the provisional data provided by the BSE. FIIs and domestic institutional investors were net buyers of equities worth Rs 28 crore and Rs 49 crore respectively. Range-bound movement seen on Dalal Street Chidambaram made Home Minister as Patil steps down Market volatile; sentiment hit More Stories on : Stock Markets | Stock Markets | Economy
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