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Markets close day in red - Sensex sheds 368 points

August 14th, 2008

Thursday, August 14, 2008 3:57:15 PM

The Indian stock markets had yet another day in the red. The Sensex lost 369.94 points and closed at 14724.18 down by 2.44%. The BSE Midcap Index lost 105.95 points and is down 1.79%. The BSE Smallcap Index is down 1.65% or 119.33 points

The NSE Nifty shut shop at 4430.50 down by 2.18%. Selling pressure in Banking stocks has bought down the Bank Nifty to 6050.25 levels. The index is down 5.03%. IT stocks continued to hit with the USD-Re turning out a bit favorable.

Selling pressure in the Bank stocks - both amongst the public sector and private sector has dragged the markets the most. Canara Bank and Punjab National Bank are down over 7% each. Kotak Mahindra Bank and SBI are down 6%, Union Bank of India, Bank of Baroda are down over 5% each.

IT stocks had a relatively good day - particularly the midcap IT stocks. Subex is up 9.83%, MPhasis is up 6.6%, Polaris is up 5% in todays trades. Infosys attempted to cross the Rs. 1700 mark but closed the day at 1695 levels. Satyam managed to close the day at above Rs. 400 levels. The script opened at Rs. 404, touched an intraday high of 417.45 and intraday low of Rs. 400 and last traded at Rs. 411.50

1 U.S. dollar = 42.6112153 Indian rupees
1 U.S. dollar = 109.337415 Japanese yen
1 U.S. dollar = 0.673083395 Euros

Entry Filed under: Equity Markets