Nifty ends below 4500; banks, realty, IT stocks hammered

10 June 2008

It was another edgy session for the markets; bears again took a charge over bulls. But it is not bad session as it was around 2 pm. Selling in technology, banking, realty, FMCG, metal and some oil stocks, has put pressure on the markets. Weakness in Asian and European markets also fueled some negative sentiments across the board.

In the morning session, it had tried to pull back to some extent but as the day progressed, it has started slipping further and broken yesterday's intraday lows as well on the back of selling in Asian and European markets. The Nifty has broken 4400 mark and slipped over 130 points. The Sensex has touched 2008 low of 14,645.31 and breached August 2007 low of 14677 in an intraday trade. It had plunged over 420 points in the afternoon session.

But in the last half an hour of trade, markets have shown smart pullback though ended lower. The Nifty has recovered nearly 80 points and the Sensex 243 points from day's low.

The Sensex closed at 14,889.25, down 176.85 points or 1.17%. The Nifty has hit a new 2008 low of 4369.80 in an intraday trade before closing the day at 4449.80, down 1.14% or 51.15 points. Today's Nifty closing is its new closing for 2008.

BSE Bankex, Realty, Auto, Capital Goods, Small Cap and Nifty Junior slipped below August 2007 lows in an intraday trade.

Turnover traded by the markets stood at Rs 72981.82 crore. This includes Rs 13788.37 crore from NSE Cash segment, Rs 53893.3 crore from NSE F&O and the balance Rs 5300.15 crore from NSE F&O segment.