Business Daily from THE HINDU group of publications
Friday, May 9, 2008 ePaper | Mobile/PDA Version
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Business Daily from THE HINDU group of publications Friday, May 9, 2008 ePaper | Mobile/PDA Version |
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Update at 1500 hrs (IST)
Markets Sensex slips below 17K MUMBAI: The BSE benchmark Sensex on Friday lost 250 points and dipped below 17,000 level during intraday on heavy selling by funds, triggered by weak Asian markets. Sectoral indices such as Oil & Gas, Bankex, PSU, Realty and Capital Goods suffered sharp losses on selling pressure. At 2.55 p.m, the Sensex was trading at 16,829.33, down by 251.32 points from its previous close of 17,080.65. The Sensex touched an intraday low of 16,828.21. Banking index Bankex declined 213.86 points or 2.44 per cent to 8,541.62 and Oil & Gas suffered a loss of 416.86 points or 3.58 per cent to 11,211.59. The S&P CNX Nifty, on the NSE, touched a low of 5,005.00 before being quoted at 5,007.50, down 74.20 points from yesterday's closing level. Marketmen said reports of weakening trends in Asian stock markets mainly dampened trading sentiments here. Traders feel further rise in the inflation rate affected the sentiment. Major losers today were Reliance Industries, ACC, ONGC, RPL, ICICI Bank, Reliance Energy, Larsen and Toubro, Jaiprakash Associates, HDFC, Infosys Technologies, SAIL and and SBI. - PTI
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