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Realty stocks continue to correct as stock markets close in red

September 26th, 2008

Friday, September 26, 2008 3:49:35 PM IST

Bad times contine on the Indian stock markets as Nifty closed at 3994.65 down by 2.82%. BSE Sensex lost 427.91 points to close down at 13119.27 points or 3.16% down. Realty, Metal, Banking stocks lost the most today.

The trades are weak starting from the opening bell but as mid-day approached, things turned out to be even more worse. A little recovery attempt just before an hour of closing bell was seen but it could not last for long as selling pressure intensified. The markets fianlly close down in red.

CNX 100 is down 2.87% while CNX 500 is down 2.93%. CNX Midcap is down 2.74%. CNX IT is down 3.12% while Bank Nifty is down 3.88%

Ranbaxy and Unitech are the two top losers on the Nifty today. Ranbaxy closed at 273.95 down 7.48% while Unitech closed at 112.15 down by 6.34%. Other top Nifty losers in todays trade include SAIL, ABB, M&M, ICICI Bank, Sterlite, HCL Tech, Siemens and BHEL.

Top Nifty gainers of the day are Tata Communications, ITC, Unileaver, Zee Limited, ACC, Sun Pharma and GAIL.

The BSE Midcap and Smallcap indices closed down 2.73% and 2.76% respectively. BSE 100, BSE 200 and BSE 500 are all down over 3% indicating that the selling is across the board.

FMCG is the lone sectoral index in the green indicating money is moving away from other sectors and into the often considered defensive FMCG.

1 U.S. dollar = 46.1659 Indian Rupees
1 U.S. dollar = 105.5408 Japanese Yens
1 U.S. dollar = 0.6836 Euros
1 Ounce Gold = $871.00
1 Barrel Crude Oil = $105.01

Entry Filed under: Equity Markets, Closing Bell