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Markets close in red - IT Up; Banks Down

August 13th, 2008

3:38 PM IST

The stock markets closed the day in the red. The day started with a downward gap but the bulls tried to come into the picture. However, the situation changed post noon when the markets once again slipped into the red. Few attempted to come back to the green didnot hold and the markets finally closed marginally in the red. Midcap stocks showed weakness but Smallcall stocks cheered. IT and Health care stocks gave a good comeback as the closing bell neared.

NSE Nifty closed the day at 4536.60 down by 0.34%. CNX IT is up 1.06% while Bank Nifty is down 1.62%. The BSE Sensex closed at 15,098.28 points down 113.85 points or 0.75%

BSE Sectoral Indices largely closd in the red. Leading the charts is the Bankex that closed down by 2.15%. It is closely followed by Realty down by 1.3%. Other top losing sectors include Capital Goods, Consumer Durables, PSU, Power, Auto, Metal and Oil & Gas.

Top Nifty losers of the day include ICICI Bank, HDFC Bank, DLF, Reliance Infra (all down over 3% each), HDFC, L&T, Siemens (each down by over 2%), Hindalco, Tata Power and Reliance Communication (all down over 1%)

Top Nifty Gainers of the day include Cipla, Sterlite (both up 3%), ABB, Cairn, TCS, National Aluminium, Infosys, Grasim, Power Grid and Zee (all up over 1%)

Meanwhile the Prime Minister’s Economic Advisory Council (EAC) lowered the GDP growth projection to 7.7 percent during 2008-09 as against an earlier estimate of 8.5 percent.

1 U.S. dollar = 42.3298341 Indian rupees

Entry Filed under: Equity Markets