Markets end in red: Bank, IT, auto stocks down
22 Feb 2008
The markets closed in red with a sharp cut tracking its Asian peers. Selling pressure was seen in scrips across sectors. IT, oil & gas, power, auto stocks are top losers. The BSE midcap and smallcap indices also closed lower giving market an extremely negative breadth. Sensex closed down naerly 400 points.
On the primary market front, REC IPO was subscribed over 17 times.
On a weekly basis both the Sensex and Nifty wre down nearly 4%.
Sensex closed down 368.46 points or 2.08% at 17366.22, and the Nifty down 78.25 points or 1.51% at 5113.55.
About 1040 shares have advanced, 1895 shares declined, and 97 shares are unchanged.
The BSE Midcap Index ended at 7,594.45 down 1%.
The BSE Smallcap Index ended at 9,595.41 down 1%.
The BSE Bankex ended at 10,150.22 down 3%. Bank of India, Andhra Bank, Kotak Mahindra, Oriental Bank, Allahabad Bank moved downwards.
The BSE Capital Goods Index closed down 1.2% at 15,656.16. Astra Microwave, BEML, Crompton Greave, Thermax, Greaves Cotton, Areva T&D closed lower.
The BSE Auto Index closed at 4,707.66 down 2%. Escorts, TVS Motor, Amtek Auto, Cummins, Punj Tractors, MRF closed lower.
The BSE Metal Index closed at 16,368.94 down 0.4%. Hind Zinc, Sterlite, NALCO, Shree Precoated, Mah Seamless, Jindal Steel, Jindal Saw, JindalStainless closed lower.
The BSE FMCG Index closed down 0.2% at 2,231.11. Colgate, ITC, Bata India, Godrej Consumer, HUL, GlaxoSmith Con closed lower.
BSE Oil and Gas Index closed at 10,673.00 down 2.2%. GAIL, Reliance Natura, HPCL, RPL,ONGC, Reliance, ONGC ended in red
BSE power index closed at 3,624.39 down 2.2%. Torrent Power, NTPC, Reliance Energy, Tata Power, Power Grid Corp, Crompton Greave ended in red.
The BSE IT Index was down 3% at 3,918.28. I-Flex Solution, Patni Computer, Financial Tech, Mphasis, Tech Mahindra, TCS, Infosys closed lower.
The NSE cash turnover was at Rs 10112.86 crore and the NSE F&O turnover was at Rs 36386.23 crore. The BSE cash turnover was Rs 4754.15 crore. Total market wide turnover was at Rs 51253.24 crore.
Asian markets were trading weak. Hong Kong's Hang Seng fell 1.93%, Japan's Nikkei slipped 1.93%, Taiwan's Taiwan Weighted was down 0.40%, Singapore's Straits Times plunged 0.92%, South Korea's Seoul Composite declined 1.58%.
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