Markets close in the red

Markets close in the red
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First Published: Mon, Jul 14 2008. 05 24 PM IST
Updated: Mon, Jul 14 2008. 05 24 PM IST
New Delhi: The domestic market ended the day on a negative note after a day full of volatility. There was selective buying and selling across the board. The BSE Sensex closed lower by 139.34 points at 13,330.51 and NSE Nifty ended down by 9.30 points at 4,039.70. The BSE Mid Caps and Small Cap closed with loss of 34.54 points and 73.60 points 5,330.80 and 6,640.06 respectively. The BSE Sensex touched intraday high of 13,559.36 and intraday low of 13,269.62.
The market opened with a heavy gap down, tracking weak cues from the US markets but showed some recovery during mid session with the European markets kicking in and the US government’s announcement to prop up troubled mortgage financiers Fannie Mae and Freddie Mac. This led to some buying in the afternoon trade. However, the markets tumbled in the final hours on profit booking.
Losers from the BSE were Ranbaxy Lab (10.45%), Satyam Computer (7.92%), Infosys Tech (7.18%), TCS Ltd (3.79%), HDFC (3.38%), BHEL (3.37%), ITC Ltd (3.30%), HDFC Bank Ltd (3.26%), Hindalco (2.96%) and ICICI Bank (1.98%).
On the sectoral front, metal index led the buying interest while IT, Banking and Pharma stocks witnessed selling pressure.
Among the indicies that closed in the green the metal index went up by 185.48 points at 12,897.19. Gainers were Hind. Zinc (8.08%), Bhushan Steel (4.60%), Sterlite In (3.21%), Tata Steel (2.69%), Steel Authority (2.24%) and Nalco (2.14%). The Oil & Gas index too closed higher by 98.79 points at 8,985.07. As ONGC (3.24%), Reliance (1.51%), IOC (0.97%), Essar Oil Ltd (0.44%) and HPCL (0.34%) closed in positive territory.
Among the indicies closing the day on a negative note, the IT Index closed lower by 232.04 points at 3,675.59. Losers were Satyam Computers (7.92%) along with Infosys Tech (7.18%), HCL Tech (5.81), MPhasis Ltd (5.04%), Moser Bayer (4.77%), Tech Mahindra (4.49%) and TCS Ltd (3.79%).
The Banking index closed down by 74.24 points at 5,970.52. Losers were Axis Bank (5.05%), HDFC Bank Ltd (3.26%), Kotak Bank (2.54%), ICICI Bank (1.98%), Overseas Bank (1.52%), and Federal Bank (1.50%).
The Pharma index lost 50.02 points to close at 4,079.92. Major losers were Ranbaxy Lab (10.45%), Orchid Chem (3.20%), Sunpha Adv (2.77%), Piramal Heal (1.83), Fortis Health (1.52%) and Apollo Hos (1.23%).
The Reality index ended down by 37.56 points at 4,762.53. Losers were Anant Raj (5.29%), Purvankara (4.47%), Unitech Ltd (3.54%), Mahindra Life (3.08%), Parsvnath (1.69%), and Pheonix Mill (1.69%).
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First Published: Mon, Jul 14 2008. 05 24 PM IST
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