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Sensex closes down by 274 points, Nifty loses 70

Sensex closes down by 274 points, Nifty loses 70
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First Published: Wed, Jun 18 2008. 04 16 PM IST
Updated: Wed, Jun 18 2008. 04 16 PM IST
New Delhi: With banking and realty stockes exerting heavy pressure on the markets, the benchmark 30 stock index lost over 275 points to close at 15,422 levels. In the The braoder markets Nifty too closed down by 71 points at 4,582.
This came with expectation of high oil prices and higher inflation number on coming Friday, 20 June. Inflation is expected to show a an even higher bump up and cross the 9% mark as the fuel price increase manisfests itself further. The markets ignored the cues from Asian markets that ended in green with the exception of Jakarta Composite. Kospi was up 1.34%, Nikkei was up 0.73% with the Chinese Shanghai up by 5.24%. Hang Seng too was up by 1.16%. European markets were trading weak with FTSE 100 down by 1.1%, DAX down 0.15% and CAC down by 0.5% at the time of writing this report.
The bankex was down by over 3.45% at 7,306. The realty index too saw a 3.5% decline to close at 5,886. Among other sectoral indicies, IT and interest rate sensitive capital goods sector too closed in the red with a 2.39% and 1.97% fall respectively. Infrastructure stocks were in the red too. The only sectors to show some strength were FMCG and auto that marginally rose by 0.37% and 0.11% respectively. Power index was up too with sustained buying in stocks like Torrent Power, GVK Power, Suzlon Energy and NTPC.
The markets closed with an advance decline ratio of 45.84% to 51.45%
Among scrips ending the session with gains were Torrent Power that closed the session up by 10.74% at Rs 107.50. Ambuja cement up by 4.8%, Reliance industrial Infrastructure (4.37%, GVK Power (4.37%) and Lanco Infrastructure (4.07%) were among the other gainers.
Among losers were United Breweries that closed down by 6.80% over previous close, Indiabulls Real Estate, down by 6.07%, IVRCL (5.26%) Axis Bank (5.16%) and Sun TV Networks (5.01%)
The FIIs were net buyers to the tune of Rs142.36 cr on 17 June.
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First Published: Wed, Jun 18 2008. 04 16 PM IST
More Topics: Markets | Stocks | Sensex | Nifty | BSE |