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Markets end in the red

Markets end in the red
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First Published: Tue, Jun 24 2008. 04 40 PM IST
Updated: Tue, Jun 24 2008. 04 40 PM IST
Mumbai: The Bombay Stock Exchange benchmark Sensex closed lower by over 180 points after testing the crucial 14,000 level during the day as hefty selling, influenced by inflationary concerns, continued.
The 30-share benchmark Sensex at close lost 186.74 points at 14,106.58, after touching a low of 13,991.31 and a high of 14,432.90 points during the day.
The wide-based National Stock Exchange index Nifty fell by 75.30 points at 4,191.10, after touching a low of 4,156.10 and a high of 4,305.90 points.
Marketmen said selling pressure continued as investors feared the next inflation figure might be much higher than the previous at 11.05% announced on 20 June.
They said the market is abuzz with rumours of a hike in loan rate by banks and may pointed out that interest rate sensitive industries such as realty, heavy machinery and partly banking sector could be in for aggressive selling in the days to come.
Metal sector suffered the most by 487.51 points at 13,368.82, followed by PSU index by 174.03 points at 6040.08. Capital goods index fell by 157.41 points at 10,639.60 and bank index by 130.92 points at 6499.66.
As the selling pressure spread over a wide front, small-cap index plunged by 129.88 points at 7,006.42 and mid-cap index by 102.49 points at 5712.74.
Information Technology sector, which escaped bear-hug in previous day’s trading, today fell by 91.91 points at 4141.51 points as segment majors Infosys Technologies and Satyam Computers fell sharply.
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First Published: Tue, Jun 24 2008. 04 40 PM IST
More Topics: Markets | Stocks | Sensex | Nifty | BSE |