Market turmoil continues; Nifty below 4000 levels
September 15th, 2008
Monday, September 15, 2008 11:44:53 AM IST
News of Lehman filing for Chapter 11 Bankruptcy, AIG on the edge of financial troubles, ML taken over by Bank of America, crude below $99 levels and the appreciating dollar are impacting the Asian markets. Nifty at sub-4000 levels
CNX IT is down by 7.48% with Software Development companies expecting not many orders from their lucrative US-dominated Banking and financial services. Bank Nifty is down 6.98%
BSE Realty index is down 9.1% followed by IT and Power which are down over 6.7% each.
Top losers on the Nifty include Unitech (down over 10%), Reliance Infra, Satyam, Tata Communications, Sterlite, IDEA, Reliance Power, Zee Limited, Siemens and DLF.
1 U.S. dollar = 45.5207 Indian Rupees
1 U.S. dollar = 106.0445 Japanese Yens
1 U.S. dollar = 0.6979 Euros
1 Ounce Gold = $783.00
Entry Filed under: Equity Markets
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