Lowest close for Sensex since Nov 08

Posted By: Staff
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Mumbai, Mar 3:Indian indices plunged in the last one of hour of trade as investors booked profits in frontline stocks. European markets which had opened higher slipped in the red and hit all-time lows as concerns of global recession took centrestage.

Bombay Stock Exchange"s Sensex ended at 8411.30, down 195.78, its lowest close since November 20, 2008. The index touched an intra-day low of 8390.21 and high of 8635.20. The index had closed at 8451.01 on November 20, 2008 and hit 52-week low of 7697.39 on October 27, 2008.

National Stock Exchange"s Nifty ended at 2619.05 down 55.55 points. The broader index slipped to low of 2611.55 and high of 2688.50.

The index witnessed its worst close since its closing lows of 2635 made on November 19, 2008. The index touched 52-week low of 2252.75 on October 27, 2008.

BSE Midcap Index was down 1.72 per cent and BSE Smallcap Index fell 1.31 per cent.BSE Oil&gas Index was down 2.63 per cent, BSE IT Index fell 2.24 per cent and BSE Bankex moved 2.10 per cent lower.

Nifty choppy; Tata Power, ITC down

Indices were moving in a narrow range with negative bias Tuesday after a steep fall in previous session. Oil&gas, realty and metal
stocks were in demand while FMCG and healthcare space was marginally lower.

At 12 pm, National Stock Exchange"s Nifty was at 2663.55, down 11.05 points or 0.41 per cent. The broader index touched a low of 2653.25 and high of 2680.25 in trade so far.

Bombay Stock Exchange"s Sensex was at 8547.08, down 60 points or 0.70 per cent. The 30-share index hit a low of 8515.98 and high of 8619.09.

Biggest Nifty gainers were Ambuja Cement (4.19pc), BPCL (3.69pc), Grasim Industries (2.52pc), NALCO (2.43pc) and HCL Technologies (1.8pc).

Losers comprised Tata Power (-3.62pc), Bharti Airtel (-3.61pc), Sun Pharmaceuticals (-3.42pc), HDFC (-2.4pc) and ITC (-2.35pc).

Mkts marginally weak, Bharti, HDFC dip

The benchmark indices are trading marginally lower amid choppiness, as selling continues in Bharti Airtel, Infosys, ITC, HDFC, HDFC Bank, BHEL, Tata Power, ONGC, Reliance Communication, Maruti and Sterlite Industries.

However, Reliance Industries, NTPC, Ambuja Cements, Grasim, TCS, Nalco, DLF, L&T, Tata Steel, M&M, Tata Motors and BPCL are helping the indices to limit downside.

The Sensex was trading at 8550, down 56 points and the Nifty was at 2,664, down 10 points. Broader indices like BSE Midcap and Small cap indices fell 0.5-0.8%. The Nifty March futures were trading with 18-20 points discount.
12.05 PM

Stocks open lower; banks hit
Stocks opened lower on Tuesday, Mar 3 dragged down by banks and consumer durables. Oil & gas and auto stocks edged higher.

Bombay Stock Exchange"s 30-share Sensex fell 59 points to 8547. National Stock Exchange"s benchmark Nifty shed 11.8 points to 2661 from its previous close.

US stocks extended their sharp losses Monday as insurer American International Group which posted a record $61.7 billion quarterly loss, was bailed out with government money again, fueling fears that the global financial crisis is worsening.

The Dow Jones industrial average plunged 246.83 points, or 3.49 per cent, at 6,816.10. The Standard & Poor's 500 Index shed 29.65 points, or 4.03 per cent, at 705.44 and the Nasdaq Composite Index was down 48.00 points, or 3.48 per cent, at 1,329.84.

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