Markets end weak; Bharti, realty scrips tank

Markets end weak; Bharti, realty scrips tank
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First Published: Tue, May 06 2008. 03 51 PM IST
Updated: Tue, May 06 2008. 03 51 PM IST
Taking a cue from its global peers, the Indian markets ended weak with the benchmark index slipping 118 points to 17,373 levels by close of trading session. The 30-share index touched an intra-day low of 17,237.
In broader markets, the Nifty ended at 5,144, down 48 points. Leading the pack of losers among the BSE 30 scrips was Bharti Airtel. The mobile operator is reported to be in talks about a stake in South Africa-based operator MTN.
The Indian firm said in separate statements they were in exploratory discussions with each other. MTN Group operates in 21 countries and is valued at more than $35 billion. The stock slipped over 5% to Rs847 amid concern about how the company will fund this multi-billion dollar takeover.
ACC, DLF Limited, Jaiprakash Associates, BHEL, Mahindra & Mahindra, Maruti Suzuki, Reliance Communication, State Bank of India, ICICI Bank, NTPC and Ranbaxy Laboratories were some of the other key losers.
However, most technology scrips bucked the trend. NIIT Limited, Infosys Technologies, Satyam Computer, Wipro, Tech Mahindra, Patni Computer and i-Flex Solutions ended the day in positive turf.
Among sectoral indices, the BSE realty index was the worst hit that tanked over 4.5% by close of trading session. Unitech Limited, Sobha Developers, Puravankara, Peninsula Land, Parsvnath Developers, Ansal Infrastructure and Anant Raj Industries lost ground besides DLF Limited.
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First Published: Tue, May 06 2008. 03 51 PM IST
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