Markets end weak on last day of 2008; Bank, oil & gas down

31 December 2008

Markets closed weak on the last trading day of 2008. Selling pressure was seen in banks, oil & gas and realty stocks. However, some buying was witnessed in capital goods, auto and metal stocks. Throughout the day, the Nifty was rangebound between the 2,950 and 3,000 mark. The BSE midcap closed up 0.59% or 1.31% respectively.

2008: It was worst yearly performance by Indian markets and Sensex, Nifty end down nearly 50%. 48 out of 50 Nifty stocks posted negative returns. Worst performing sectors were realty, metal & capital goods; it were down 80%, 74% and 65% respectively.

The Sensex closed down 68.85 points or 0.71% at 9647.31, and the Nifty was down 20.35 points or 0.68% at 2959.15.

Markets breadth was positive: about 1643 shares have advanced, 1100 shares declined, and 460 shares are unchanged.

Top losers on the Sensex are HDFC, ICICI Bank, HDFC Bank, Sterlite Ind and Reliance.

However, top gainers on the Sensex are Satyam, Ranbaxy Labs, Tata Motors, Hindalco and M&M.