Markets end with sharp cut; banks, realty worst hit

04 March 2008

It was one more disappointing day for the markets, closed on a weak note though it opened in positive terrain. The markets remained weak for major parts of the day. Weak global cues and negative cues from banking major have given support to the sentiments. Market breadth was very positive for the whole day. Banking, realty, capital goods, midcap and small cap stocks were the biggest losers today.

The Sensex closed down 337 points at 16,339 and the Nifty down 88 points at 4864.

Mkt slips further; ACC, ICICI Bank, DLF top losers

The market was showing some recovery but again slipped further with selling pressure in capital goods, realty and banks stocks. Negative trend in European markets also added to the sentiments. Midcap and small cap stocks have also hit very badly. Market breadth is negative; about 588 shares have advanced, 2393 shares declined, and 64 shares are unchanged. On the global front, European markets are trading lower.

At 3:46 pm, the Sensex was down 324 points at 16,353 and the Nifty down 86 points at 4,866.

Midcap and small cap stocks are under heavy selling pressure, BSE Midcap and Small Cap indices down over 2% and 3%, respectively.