Market ends in deep red but off lows: Sensex down 800 points

22 January 2008

The markets closed in red but showed remarkable recovery and were off the lows. It was yet another scary session which opened with circuit down and the markets were shut for an hour then recovered a bit after opening but continued to witness some wild swings.However, markets got some buying support towards the end with some positive cues of recovery in European markets.The Finance Ministry has ruled out foul play in the stock market.

Nifty ended down 310 points recovered nearly 450 points from the day's low. 

NSE Advance:Decline ratio was at 1:18; which was as bad as 1:87 at one of time.

Sensex closed down 850 points, it recovered over 1400 points from the day's low.

Bharti Airtel, Infosys, Reliance Energy, Idea, SBI, Nalco and Sesa Goa were among the stocks providing support at the lower levels.

ITC, M&M, Ambuja Cements, Hero Honda, ONGC, Sun Pharma, Ranbaxy are the top losers. The other losers were Tata Steel, Satyam, PNB, Maruti, Cipla and HUL.