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Indian stock markets close down by 2.50%; Crude testing $101 levels

September 11th, 2008

Thursday, September 11, 2008 4:15:27 PM IST

Markets continue to be on a downward move today after having a gap-down opening. Nifty closed at 4290.30 down 2.50% while Sensex lost 338.32 points and closed at 14324.29 losing 2.31%

CNX 100 is down 2.32% while CNX 500 is down 2.12%. CNX IT is down 1.14% and Bank Nifty is down 1.48%

BSE Midcap and Smallcap stocks are on mute note early in the morning but bears are back after them as day progressed. The Midcap index is down 1.08% and Smallcap index is down 1.22%

Oil & Gas, Power, Realty, Capital Goods, PSU sectoral indices on the BSE are down considerably while others indices are down marginally.

Nifty gainers of the day includes Tata Motors (up 1.08%) and Punjab National Bank (marginally in the green). Nifty losers list is lead by Suzlon (down over 6.6%), HCL Tech, Zee Limited, Bharti Airtel, Reliance Infra and Reliance (all down over 4%), ONGC, Tata Power, DLF and Sun Pharma (all down over 3%).

Gold and Crude Oil are on a correction mode. Gold is at sub-$750 level while Crude Oil came to $101 levels today. Analysts say $80 would be the correct price for crude oil once it gets down at $100 levels.

1 U.S. dollar = 45.0491 Indian Rupees
1 U.S. dollar = 107.5731 Japanese Yens
1 U.S. dollar = 0.7131 Euros
1 Ounce Gold = $743.00
1 Barrel Crude Oil = $101.76

Entry Filed under: Equity Markets, Closing Bell