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Markets heads towards new day low

August 14th, 2008

Thursday, August 14, 2008 3:01:18 PM

Markets lost further strength in the last hour or so and Nifty touched a new intraday low. Nifty is at 4447.15 down 1.81%. Nifty Junior is down by 3.14% and is currently at 7206.25. Bank Nifty is down 4.80% and is at 6065.15. CNX IT is holding firm at 3910.55 up 1.44%

Top losing Banking scripts include Canara Bank (down over 7.8%), Bank of Baroda (down 6.87%), SBI, Union Bank of India, Kotak Bank, Bank of India (all down over 5.5%), ICICI Bank, IDBI (all down over 4%), Oriental Bank of Commerce, Punjab National Bank, Axis Bank and HDFC Bank (all down over 3%)

Sensex is currently at 14777.16 down 315 points or 2.09%. Top BSE Sectoral losers include Bankex, Capital Goods, Power and PSU.

Market analysts say, looking at the current economic situation and global factors, there could be a further downside of 10%

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