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Markets close day after Realty and Banking stocks go on selling spree

August 27th, 2008

Wednesday, August 27, 2008 4:08:40 PM IST

Heavy selling in the Realty and Banking stocks and in Capital Goods and Power stocks to a certain extent during the last two hours of trade has pulled the stock markets down.

The NSE Nifty closed the day at 4292.10 down by 1.05%. CNX IT is down 0.49% while Bank Nifty is down 2.01%. CNX 100 is down 1.03% while CNX 500 is down 0.97%

Sensex closed the day at 14724.18 down by 368.94 points or 2.44%. BSE Midcap and Smallcap indices closed the day down by 1.79% and 1.65% respectively.

On the BSE Sectoral indices front, IT is up 2.18% while Realty is down by a whopping 7.97%. Bankex is down 5.07% and Capital Goods is down 3.71%

DLF and Reliance Infra are down over 3% each. SBI, ICICI Bank, Unitech, Tata Motors, BHEL, Relaince Communications, Power Grid are all down by over 2%. HDFC is down by 1.95%

Dr. Reddy and Hindalco are up over 2% each. Other Nifty gainers include SAIL, Hero Honda (both up 1%), GAIL, ABB, Idea, Tata Steel, Punjab National Bank and Infosys (all marginal gains).

1 U.S. dollar = 43.5142 Indian Rupees
1 U.S. dollar = 108.9680 Japanese Yens
1 U.S. dollar = 0.6797 Euros
1 Ounce Gold = $833.10
1 Barrel Crude Oil = $117.60

Entry Filed under: Equity Markets, Real Estate & Construction, Banks & NBFC