Markets end with sharp cut; Bankex, IT, Realty dip 4-5 per cent
23 Sep 2008
Markets got butchered in late trade and ended with deep cut on the back of huge sell off in realty, banking, technology, capital goods, telecom, metal and power stocks. Midcap and small cap stocks also witnessed selling pressure.
The Sensex closed with a loss of 424.65 points or 3.03% at 13,570.31. The Nifty tumbled 96.15 points or 2.28%, to settle at 4126.90. All BSE indices ended in red. BSE Midcap lost 107.65 points or 2.06%, to close at 5,113.31. BSE Small Cap Index fell 101.14 points or 1.63% to 6,092.97.
Among the frontliners, Ranbaxy Labs slipped 11.05%, DLF -6.25%, Satyam -5.98%, TCS -5.91% and Wipro -5.77%. However, there were only two gainers on the BSE Sensex like ACC and Tata Power with marginal gain. In the NSE Fifty lot, Sun Pharma gained 3.37%, NALCO 2.81%, BPCL 2.33%, Cairn India 1.45% and Hero Honda 1.31%.
Volumes increased as compared to Monday session. It stood at Rs 83,294.39 crore. This includes Rs 10,599.83 crore from NSE Cash segment, Rs 68,368.65 crore from NSE F&O and balance Rs 4,325.91 crore from BSE Cash segment.
On the global front, Asian markets ended lower except Kospi and Taiwan. Shanghai lost 1.56%, Hang Seng -3.87%, Jakarta -1.28% and Straits Times -2.66%. However, Kospi gained 1.44% and Taiwan Weighted 1.17%. Nikkei was shut today for the Autumn Equinox holiday.
European markets were trading sharply lower, at the time of writing market reports. FTSE was down 2.1%, CAC -1.5% and DAX -0.7%.
Asian markets are trading off days low. Shanghai fell 0.96%, Hang Seng -2.39%, Straits Times -1.93%, Taiwan Weighted -0.16% and Jakarta -0.76%. However, Kospi gained 0.61%. Japanese markets are closed for the Autumn Equinox holiday.
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