Markets end on a weak note
Mumbai, Feb 27: Although the market managed to crawl back from the day"s lows, it ended on a weak note. Realty, oil & gas and technology stocks were the biggest losers in Friday"s trade.
The fairly dismal GDP data took a toll on sentiment. The country"s economy grew 5.3 per cent in the December quarter from a year earlier, slowing sharply from the previous quarter's 7.6 per cent as the global economic crisis slashed demand and exports.
Adding to its woes, the Indian rupee too slumped to its life-time low in afternoon trading to 51 against a dollar on heavy demand for the US currency.
Bombay Stock Exchange"s Sensex ended at 8,874.21, down 80.65 points or 0.90 per cent. The index slumped to a low of 8,728.66 after opening at a high of 8,944.11.
National
Stock
Exchange"s
Nifty
lost
26.85
points
or
0.96
per
cent
to
2758.80,
coming
off
a
low
of
2708.45.
4.18PM
Mkts
tumble;
RIL,
Infosys
draggers
Markets
continue
to
trade
weak
as
all
sectoral
indices
are
trading
negative.
Out
of
BSE
Sensex
30
stocks,
only
HDFC
is
trading
positive.
Reliance,
Infosys,
ITC,
Bharti
Airtel
and
ICICI
Bank
are
major
draggers
to
the
Sensex.
The BSE realty index is worst hit; it is down 3.42%. Heavy selling pressure is also seen in oil & gas, metal, IT, power, auto and capital goods stocks. The BSE midcap and smallcap indices are down half percent form their previous close.
The Sensex was down 201.85 points or 2.25% at 8753.01, and the Nifty was down 63.20 points or 2.27 pc at 2722.45, at 1.52 pm.
Top
losers
on
the
Sensex
are
Reliance
Infra
at
Rs
481.30
down
5.53
pc,
Wipro
at
Rs
205.00
down
5.07
pc,
Grasim
at
Rs
1,385
down
5.06%,
M&M
at
Rs
305
down
4.91
pc
and
ACC
at
Rs
532.20
down
4.9pc.
2.26
PM
Nifty
nosedives
as
Q3
GDP
disappoints
Key indices took a beating on Friday as sentiments turned bearish after India"s Q3 GDP grew at a slower pace of 5.3 per cent against a forecast of 6.2 per cent.
It grew at 7.6 pc in the September 2008 quarter and 7.9 pc in the June 2008 quarter.At 11:15 am, National Stock Exchange"s Nifty was at 2724.60, down 61.1 points or 2.20 per cent. The index touched an intra-day low of 2722.50 and a high of 2787.20 in trade so far.
Bombay
Stock
Exchange"s
Sensex
was
at
8764.62,
down
190.24
points
or
2.12
per
cent.
It
touched
a
low
of
8764.62
and
a
high
of
8944.11.
11.42
AM
Quiet
opening
for
equities;
IT
down
Stocks
opened
on
a
flat
note
with
a
negative
bias
on
Friday,
Feb
27
as
global
cues
weighed
on
sentiment.
Secondline
stocks
turned
positive
after
a
sharp
fall
in
Thursday"s
trade.
Bombay Stock Exchange"s 30-share Sensex fell 42.85 points to 8912.01. National Stock Exchange"s benchmark Nifty slipped 14.6 points to 2771.05 from its previous close.
US stocks fell in volatile trade on Thursday as a spate of sour economic data and worries that President Obama's budget proposal will strangle profits forced investors to sell off stocks across the board.
The Dow Jones Industrial Average fell 88.81 points, or 1.22 percent, to 7,182.08. The Standard & Poor's 500 Index lost 12.07 points, or 1.58 percent, to 752.83 and the Nasdaq Composite Index gave up 33.96 points, or 2.38 per cent, at 1,391.47.
OneIndia News