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Markets take a hard knock; Touches 2008 lows during trades

September 29th, 2008

Monday, September 29, 2008 3:48:57 PM IST

The Indian stock markets have touched the lows of 2008 but managed to recover a bit after than and ended up in the red today. Nifty is down 3.54% and managed to close upwards of 3700 and last traded at 3844. Sensex is down 4.03% amnd closed at 12574.55

CNX 100 is down 3.65% and CNX 500 is down 3.85%. CNX IT is down 4.26% while Bank Nifty is down 4.98%.

Top Nifty losers of the day include ICICI Bank (down over 12%), Suzlon (down over 11.75%), IDEA (down over 9.6%), Tata Power and Satyam (both down over 8%), HCL Tech (down over 7%), TCS, DLF, Ranbaxy and Reliance Power (all down over 6% each).

Despite such a broad day of blood bath in the markets, there are few stocks that managed to close in the green. BPCL, SAIL, Hero Honda, Hindustan Unileaver, GAIL and Wipro managed to close in the green.

The BSE Midcap and Smallcap indices are down 4.41% and 5.50% in line with the broder indices indicating a market-wide selling today. Realty. Bank, Consumer Durables, Power, Capital Goods and IT are the biggest sectoral losers. Sans the FMCG which is down 0.50%, all the remaining BSE sectoral indices are down by nothing less than 2.4%.

1 U.S. dollar = 46.6700 Indian Rupees
1 U.S. dollar = 105.9658 Japanese Yens
1 U.S. dollar = 0.6916 Euros
1 Ounce Gold = $875.70
1 Barrel Crude Oil = $103.52

Entry Filed under: Equity Markets, Closing Bell