Business Daily from THE HINDU group of publications
Saturday, Dec 27, 2008
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Business Daily from THE HINDU group of publications Saturday, Dec 27, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Stock Markets Markets - Stock Markets 
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Mumbai, Dec 26 It was a rather disappointing week for the equity market, with benchmark Sensex losing 770 points in four consecutive trading sessions. On Friday, Sensex closed at 9,329 points with a loss of 2.5 per cent or 240 points. NSE Nifty too closed with a loss of 60 points at 2,857. Last week, the benchmark index had crossed the 10,000-mark, following the cut in interest rate by the Reserve Bank of India and the announcement of the stimulus package by the Government. According to traders, lower advance tax collections and reports about the three service chiefs meeting the Prime Minister, dampened the market sentiment on Friday. The market opened marginally up in the morning but fell steeply in the afternoon session with reports of lower tax payments by corporates in the December quarter. The only positive news was the lower inflation number which was 6.61 per cent for the week ended December 13, said a broker. FIIs net sellersThe Foreign institutional investors were net sellers of equities worth Rs 345 crore for the day according to the provisional data. The domestic institutional investors too were net sellers of shares worth Rs 7 crore. Meanwhile, the SEBI data indicated that the FIIs were net sellers of equities worth Rs 613 crore in the previous three trading sessions of the week. The sectoral losers were IT – down by 3.92 per cent, realty 3.82 per cent, bankex 2.99 per cent and capital goods 2.95 per cent. Indian bourses among worst hit Advance tax: Top Ten payments’ growth slows Weak global cues subdue market sentiments More Stories on : Stock Markets | Stock Markets
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