Markets butchered; Bankex, Realty dip over 4 per cent, CG slips 3.8 per cent
19 Jun 2008
Bears have reigned on the markets again and not given a single chance to bulls in today's session. It was the second straight day of selling pressure in the markets on the back of negative sentiment in US markets, which slipped due to rising crude oil prices, and weak earnings from FedEx and Morgan Stanley. Asian markets also followed same cues and ended in negative terrain.
Banking, capital goods, realty, power and healthcare stocks have put pressure on the markets. Inflation worries have spooked the markets a lot; experts expect Inflation to touch the double digit mark this week itself. Another worrisome subject is Nuke deal. If the UPA government goes ahead with this deal, Left has threatened that they will withdraw support.
The Nifty lingered around its psychological mark of 4500 through the day but managed to close just above that level. It has touched an intraday low of 4488.95, before closing the day at 4504.25, down 78.15 points or 1.71%. The Sensex plunged 334.32 points or 2.17% to finish at 15,087.99, after hitting a low of 15,051.66.
Total turnover traded by the markets stood at Rs 56589.65 crore. This includes Rs 9254.57 crore from NSE Cash segment, Rs 42696.18 crore from NSE F&O and the balance Rs 4638.9 crore from BSE Cash segment.
On the global front, Asian markets ended sharply lower following weak US markets cues; Shanghai was down 6.5%, Hang Seng 2.3%, Nikkei 2.23%, Taiwan Weighted 2.07% and Kospi fell 1.9%. European markets were trading flat, at the time of writing market report. FTSE 100 was up 0.3% and CAC 0.13% while DAX fell 0.15%.
Asian markets were trading lower; Nikkei was down 1.9%, Kospi 2%, Hang Seng 1.7% and Taiwan Weighted 1.8%.
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