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Indian markets volatile as Economic survey results comes out

February 28th, 2008

Indian Stock Markets are highly volatile today with most of the time spent on the  lower level. Indian Economic growth, according to the Economic Survey, for  2007-08 is projected at 8.7 per cent.

Nifty closed at 5285.10 up 0.32%. CNX IT is up 0.09%. Bank Nifty is down 1.28%. CNX 500 is down 0.08%. CNX Midcap is down 0.19%. Nifty Midcap 50 is down 0.60%. Sensex closed at 17,824.48 down 0.01%

Infosys closed down by 1.21% while its Tier I IT peers closed positive. Satyam is up 2.05%. Wipro is up 1.53% and TCS closed marginally in red.

Banking stocks had a relatively dull day. Union Bank is down 5.73%. Punjab National Bank and Bank of Baroda are down over 3%. Kotak Bank and State Bank of India are down 2%, Oriental Bank of Commerce, Corporation Bank, Bank of India are down over 1%. ICICI Bank closed marginally in the red while Canara Bank is up marginally. Private banks HDFC Bank and Axis Bank are both up over 1%

Metal, Health Care and Auto sectoral indices are up over 1% while Realty is down over 1%

Entry Filed under: Equity Markets, BSE, NSE, Closing Bell