Market ends in deep red: Bank, IT, FMCG, power down

15 January 2008

It was an extremely weak session for the markets as they closed deep in red. Indian markets were among the worst performers in Asia. In the last leg of trade heavy profit booking set in taking Nifty below 6,100 mark.

Banking, IT, FMCG, power and capital good stocks were among the top losers. Broader markets also lost all their strength they showed in the initial trade. Midcap and smallcap indices closed in red.

On the primary market front, Reliance Power is subscribed by over 9 times getting bids worth Rs 88,000 crore.

Among the top losers Bharti was down 6%, ICICI Bank down 4%, Suzlon, Sterlite are down over 3%.

Sensex closed down 476.96 points or 2.30% at 20251.09, and the Nifty down 132.55 points or 2.14% at 6074.25.

About 1032 shares have advanced, 1910 shares declined, and 34 shares are unchanged.