Sensex down 530pts; Nifty 50 looses 130 pts - Feb 28, 2007 - 3:15 PM
February 28th, 2007
The markets continued to go deeper into red with not much relief coming from the Indian Budget. With this, analysts say that this market weakness is more to do with global cues rather than within country factors.
FMCG is the one area that is not much touched by the budget directly. However, experts say the cost of money would influence their businesses. ITC is one FMCG stock is gaining strength and is making more inroads in the positive space gradually. Dabur however is weak.
IT stocks take more heavy selling. Satyam with -7% leads the pack of large IT cos which also includes Infosys, TCS, Wipro all of which are in red.
Amongst the banking stocks, ICICI Bank and HDFC Bank are hardly hit.
Entry Filed under: Equity Markets
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