Markets make remarkable come back by closing bell
September 1st, 2008
Monday, September 01, 2008 4:40:19 PM IST
The last hour of trade today, instead of dragging the indices down, has taken the market to almost opening time levels. The Nifty managed to close day at 4348.65 down 0.26% while BSE Sensex managed to coverup losses to finally shut shop at 14,498.51 points or down 0.45%
The CNX IT is up 0.18% and Bank Nifty that was has seen severse selling pressure till mid day has revesed to finally close upwards by 0.44%
Top Nifty gainers of the day include HCL Tech (up 3.9%), Sun Pharma, Hero Honda, ABB (all up over 2%), ITC, HDFC Bank, BHEL, PNB (all up over 1%), Satyam and SBI (marginally in the green)
Top Nifty losers include Ranbaxy (down 3%), Tata Steel, Bharti Airtel, Maruti (all down over 2%), Siemens, Tata Communications, National Aluminium, Reliance Communications, Infosys and Hindustan Unileaver (all down over 1%)
Apollo Tyres continue to close in the red. The script opened at Rs. 39 and closed at 38.20 having lost 2.92% today. Other losers prominent the fell in todays trade include Aditya Birla Nuvo, HDIL, Aisan Paints, GMR Infra, Kotak Bank, PFC, Reliance Capital, JSW Steel and IDFC
The BSE Midcap Indes is down be ust 0.01% while the BSE Smallcap Index closed at almost opening levels. PSU, Oil & Gas, FMCG, Bankex, Realty sectoral indices closed in the green. Metal and Consumer Durables are down by over 1%.
Inflation and steel prices are closely linked and needless to say any news about oil will throw up an indirect impact on the steel stocks. Prominent metal stock losers of the day include Tata Steel, Sesa Goa (both down over 2%), SAIL, JSW Steel, ISPAT Industries, Gujarat NRE Coke (all down over 1%). Metal gainers of the day include Jai Corporation Limited (up 2.53%) and Welspun Gujarat (up over 1%)
1 U.S. dollar = 44.0102 Indian Rupees
1 U.S. dollar = 108.3658 Japanese Yens
1 U.S. dollar = 0.6834 Euros
1 Ounce Gold = $830.60
1 Barrel Crude Oil = $114.70
Entry Filed under: Equity Markets, Closing Bell
Leave a Comment
Some HTML allowed:
<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>