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Indian markets still struck with Asian flu |
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Written by Tyler_Ross
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Tuesday, 06 March 2007 |
Yesterday was yet another bad day for the benchmark index. It made its closure after dropping off 471.09 points at 12,415.04, whereas Nifty closed 150.25 points down at 3,576.50.
The BSE Sensex opened at 12,716.85 and touched a low of 12,344.44. The major losers were pharma, auto and IT stocks. Global signals led the Sensex towards the descending pitch. Asian stocks also chop down, as Japanese Nikkei index broke up 575.68 points to 16,642.25.
The overall market breadth was depressing. Out of the 2611 shares, 220 get advancement whereas 2363 declined and 28 remained unaltered.
ABN Amro articulated, “Market movement in the new week will mainly ride on overseas markets, which have seen negative sentiment following valuation concerns and US economic outlook. Government/RBI measures to control inflation as well as international oil price movement would also set key triggers.”
Amidst sectoral indices, BSE Bankex cast off 3.51%, BSE Auto turned down 5.18%, BSE CG dunked 5.51% and BSE IT came down by 4.52%.
The stocks included in the losers’ list were Ranbaxy that declined 7.56%, Maruti dunked 6.56% and Dr. Reddy’s skidded 6.35%. Other losers’ include Wipro, L&T and Tata Steel.
The stocks with leading volume chartbusters were SAIL with 5.98 million shares, which is followed by IDFC with 5.18 million shares, Reliance Comm. with 4.25 million shares and Gujarat Ambuja with 4.13 million shares.
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