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Markets close in red (again) - March 7, 2007 - Closing bell

March 7th, 2007

The markets continued their haphazard. While the morning session was all towards downwards, a bit of recovery was seen post-noon. All NSE indices closed in red today.

S&P CNX NIFTY closed at 3626.85 (-0.79%)
CNX NIFTY JUNIOR closed at 6295.40 (-2.15%)
CNX IT closed at 5098.05 (-1.76%)
BANK NIFTY closed at 4993.55 (-2.28%)
CNX 100 closed at 3494.80 (-0.98%)

Sensex closed at 12579.75 (-117.34%)

New Listings on NSE today saw a rather poor start today.

Broadcast Initiatives Limited opened at 140.00 and touched a low of 67.00 before closing at 70.00. Evinix Accessories Limited opened at 120.00, saw a intraday high of 129.00 and low of 70.20 before closing at 74.60. Oriental Trimex Limited is no exception to this trend. The stock opened at 50.10 reached an intraday high of 52.50 and intraday low of 28.55 before closing at 29.30.

MindTree Consulting Limited was the only exception to this trend. The stock opened at 627.00 touched an intraday high of 673.75 and intraday low of 576.00 before closing at 625.00

IT stocks had a dull day. Of the 20-stock CNX IT, 4 stock advanced while the remaining 16 declines. Rolta, Hexaware, Tata Elxsi and Mastek closed in positive while HTMT, HCL Insys, Polaris, Wipro and Patni ended in red.

Banking stocks continued their poor show. Of the 12 stock Bank Nifty, 11 declined while only 1 managed to advance. The only bank stock of the Bank Nifty to stay in green is none other than Oriental Bank of Commerce which was in news in the past few days for all good reasons. Bank of Baroda (-5.1%), Union Bank of India (-4.4%), Bank of India (-4.3%), UTI Bank (-3.65%) and Canara Bank (-3.01%) all closed in red. Kotak Mahindra Bank managed to close in positive today. The stock opened at 444.00, saw a intraday low at 429.00 and closed at 437.10 (+0.91%)

Top Nifty 50 gainers of the day are M&M, Cipla, Glaxo, Suzlon and HDFC. Price-hit cement stocks continued their poor show even today. Gujarat Ambuja (-8.3%) and ACC (-4.9%) were big losers in todays trading session. Hindustan Petroleum, SAIL and Ranbaxy too closed in red.

USD/INR is at 44.50

Entry Filed under: Equity Markets, Closing Bell