Markets end in deep red in line with Asia: IT, metal worst hit

06 February 2008

It was an extremely weak session for the markets as they closed deep in red with rest of Asia. The cues from US were negative slumped on weak economy data giving rise to concerns over recessionary trend. Asia ended down in the range of 4-6%. Among the top losers were stocks from IT, metal, realty and oil & gas sector.

On the primary markets front, it has been disappointing for Emmar MGF IPO it has been suscribed only 0.58 times. Most of the bids were at Rs 540/share the lower end of price band.

Fertilisers stocks stood out in today's session with Deepak Fertilisers up over 6% followed by Chambal and Nagarjuna Fertilisers.

All the BSE indices ended deep in red. BSE IT index was down 5.5%, metal index was down over 4% BSE oil & gas down over 3.5%, realty index was down over 2%.

Sensex closed down 523.67 points or 2.81% at 18139.49, and the Nifty down 161.35 points or 2.94% at 5322.55.

About 1379 shares have advanced, 1576 shares declined, and 55 shares are unchanged.