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Markets takes a roller coast down fall

June 2nd, 2008

The Indian stock markets tumbled down again. The CNX Nifty is down 2.68% and closed at 4739.60. The Sensex lost 352.39 points or 2.15% and closed at 16,063.18 - barely few points above the 16K mark.

The BSE Midcap and Smallcap index too had a similar hit and lost 2.61% and 2.13% respectively.  Selling is evident across the sectors. Only the Auto sectoral index on the BSE managed to close in the green. Realty index is down 4%, PSU, Metal, Power and Bankex sectoral indices are down over 3% while others managed to close marginally in the red.

Major losers on the NSE today include Nalco, Unitech and NPTC - all down 6%, TCS, SAIL, ACC and Hindalco - all down by 5%, Reliance Infra, Cairn and GAIL down by over 4%.

Nifty gainers of the day include Hero Honda - up over 5%, Maruti and Sun Pharma both up by over 3%, ITC up over 1% and Dr. Reddy, M&M, Bharti Airtel and ABB which closed marginally in the green.

Overall, a bad day for the markets - a bad start for the week.

1 U.S. dollar = 103.444709 Japanese yen
1 U.S. dollar = 40.8897612 Indian rupees

Entry Filed under: Equity Markets