GetPaidIndia.com

IT stocks tumble down, Sensex back at 14000 levels

September 12th, 2008

Friday, September 12, 2008 3:48:33 PM IST

Thanks to the currency problems, IT stocks have witnessed selling pressure which inturn make the broder indices to test their levels. BSE closed at 14000.81 losing 323.48 points or 2.26%. NSE closed at 4200.95 down 2.08%

The markets had a good opening but soon was in the red. The markets made attempts to come back into the green but this was very shortlived. The last 30 minutes of trade did the most of the damage.

CNX IT is down 3.90%. Bank Nifty is down 2.54% CNX 100 is down 2.15% and CNX 500 is down 2.10%. Nifty Midcap 50 is down 2.56%

Top Nifty losers of the day include Reliance Infra (down 7.35%), Infosys (down 6.03%), ICICI Bank (down 5.04%), DLF, Sterlite, Tata Motors (all down over 4%), Reliance, HDFC and TCS (all down over 3%). Nifty gainers of the day include Maruti, National Aluminium (both up over 3%), SAIL, PNB, BHEL, Zee Limited, Cipla, Cairn and Hindustan Unileaver.

The BSE Midcap and Smallcap indices too closed in the red losing 1.95% and 1.57% respectively. All sectoral indices on the BSE closed in the red with IT, Realty, Bankex, Oil & Gas being the top losing sectors.

1 U.S. dollar = 45.2406 Indian Rupees
1 U.S. dollar = 107.0663 Japanese Yens
1 U.S. dollar = 0.7091 Euros
1 Ounce Gold = $754.70
1 Barrel Crude Oil = $102.30

Entry Filed under: Equity Markets, Closing Bell