Sensex dips 209 points to 16,316

Sensex dips 209 points to 16,316
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First Published: Thu, May 29 2008. 04 41 PM IST
Updated: Thu, May 29 2008. 04 41 PM IST
Markets ended weak after a choppy session with the benchmark index slipping 209 points to 16,316 levels.
The 30-share index moved in a broad range of 16,196 – 16,666 levels in intra-day deals. In broader markets, the Nifty ended weak by 83 points at 4,835.
Leading the pack of losers among Sensex scrips was Tata Motors. The stock shed 8.2% or Rs52. Ambuja Cements, Hindalco, HDFC, Mahindra & Mahindra, TCS Limited and ACC also witnessed heavy sell-off.
However, Larsen & Toubro firmed up 6.6% or Rs180 at Rs2,889 on the back of strong performance in January – March 2008 quarter. During the recently concluded quarter, L&T earned a net profit of Rs967 crore, a 38% jump over the previous corresponding period. The board has also announced a 1:1 bonus issue.
Among sectoral indices, the BSE auto index was the worst hit that slipped 3.3% by close. Ashok Leyland, TVS Motor, Escorts Limited, Maruti Suzuki and Bharat Forge lost ground besides Mahindra & Mahindra and Tata Motors.
Going forward, traders will be keeping an eye on the GDP numbers for Q4FY08 and inflation data due 30 May.
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First Published: Thu, May 29 2008. 04 41 PM IST
More Topics: Markets | Stocks | Sensex | Nifty | BSE |