Mkts recover marginally before closing

Mumbai, Nov 27: After Dubai announced that two of its flagship firms Dubai World and Nakheel planned to delay repayment of billions of dollars in debt, markets across the globe plunged.

Indian equities too saw a rough day on Friday, Nov 27 with the benchmarks and the broader indices seeing red throughout the day.

The Dubai news was received as a possible second global economic meltdown, along with giving birth to fears of roadblocks in countries' recovery from the slump.

However, benchmark indices as well as European shares bounced back marginally, leading to the Indian equities recovering about 2/3rd of their losses in the last couple of hours.

Recovering 421.57 points before the close, the 30-share BSE Sensex shut shop at 16,632.01, down 222.92 points or 1.32 per cent. After recovering 135.05 points from the day's low, the 50-share NSE Nifty closed at 4,941.75, down 63.80 points or 1.27 per cent.
4: 30 PM

Dubai debt: Indian, Asian US mkts crack further

With the concerns over Dubai debt issue continuing haunt the Dalal Street, Sensex tumbled 643 points to 16,211 and the Nifty tanked 197 points to 4,807, at 1: 12 pm. The broader indices slipped 4 per cent.

While banking, realty, metal and capital goods were the major losers, shares of the Indian firms with Dubai links were winessing heavy sell off.

On the sectoral front, BSE Bank, Metal and Realty indices plunged 5 to 6 per cent while Capital Goods, Oil & Gas, IT, TECk, Auto, Power and FMCG indices fell 2 to 4 per cent.

Among the largecaps, Jaiprakash Associates, DLF, ICICI Bank, L&T, Sterlite Industries, Siemens and Unitech tumbled 5 to 8 per cent.

However, Ranbaxy Labs continued to be the gainer on the Nifty by surging 2 per cent.

Among the midcaps, KGN Industries jumped 5 per cent and Jain Irrigation was up 2.48%. The losers were BF Utilities, Aban Offshore, REI Six Ten, Jindal Saw and IVRCL Infrastructure, down 8.6 to 10 per cent.

In the smallcap arena, JMD Telefilms rose 4.95 per cent and ABG Infralogistics was up 1.86 per cent. Page Industries, Surana Industries and Dynamatic Tech were up 0.5 to 1 per cent. The losers were Orbit Corporation, Binani Industries, Tube Investment, JSW Holdings and TV TodayNetwork, down 10 to 14 per cent.

The Asian and US markets too cracked further.
2: 34 PM

Dubai debt shakes world mkts, Sensex down 516 pts

With the Dubai's debt concerns continuing to haunt the markets around the world, the Indian benchmarks tumbled further on selling pressure. At 12: 02 pm, Sensex was down 516 points at 16338, and the Nifty was down 159 points at 4845.

Realty index plunged over 6 per cent whilt the BSE Bank, Metal, Capital Goods and Oil & Gas indices fell 3 to 4 per cent.

Among the largecaps, Siemens, DLF, Jaiprakash Associates, Larsen and Unitech down 5 to 7 per cent on heavy selling.

Ranbaxy Labs and Cipla were the only two stocks on the Nifty trading with positive bias.

KGN Industries, Jain Irrigation, Wockhardt, CI India and EIH were up 1 to 5 per cent were the top gainers on the BSE Midcap while BF Utilities, Indiabulls Real, HDIL, Sobha Developer and Indiabulls plunged 6 to 8 per cent.

Top gainers on the BSE Smallcap were JMD Telefilms, Money Matters, Rico Auto, Religare Techno and Page Industries up 1 to 5 per cent, while Orbit Corporation, Mahindra Forg, Deep Industries, JSW Holdings and Ganesh Housing lost 8 to 10 per cent.
12: 40 PM

Mkts hit by Dubai debt news, Sensex tanks 335 pts

Severely affected by Dubai's debt debacle, the Indian markets have opened sharply lower. At 9:56 am, NSE Nifty tanked 110 points to 4,895 while BSE Sensex shed 335 points to 16,512. The CNX Midcap too slipped, losing 162 points to 6,979.

Expanding in banking, real estate and transportation, Dubai has accumulated USD 80 billion of debt. Due to this, shares of Indian companies, which have exposure to Dubai, were reeling under huge selling pressure.

DLF, Unitech, Suzlon, ABB, L&T, Jaiprakash Associates, Tata Steel, SBI, ICICI Bank, Sterlite, JSPL, Hindalco, Reliance Infrastructure and, Reliance Industries were biggest frontline losers in early trade.

On disappointing numbers, Siemens tumbled 7 per cent.

Trading in green was Suzlon Energy up 1 per cent on the news that REpower won order for up to 954 MW.

Among the midcaps, Punj Lloyd tumbled 4 per cent, Nagarjuna Construction slipped 7 per cent, HDIL, Orbit Corp, IVR Prime, Parsvnath, Dena Bank and UCO Bank slipped 5 to 6 per cent.
10: 16 AM

OneIndia News