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Market Dips after Yesterday’s Heave |
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Written by Nikunj Mehra
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Tuesday, 17 April 2007 |
After opening strongly, the market capsized on the point of profit
booking. Trading a few minutes, just selling the technology stocks, the
market skidded in red. Following two days of sharp rise, the market was
extremely volatile.
The feeble Asian markets are affecting investor
sentiments.
As recorded at 10:30 am, Sensex was down 41.68 points or 0.30 per cent
at 13,653.90 and Nifty was down 12.55 points or 0.31 per cent at
4,000.80. The BSE-30 share index, which pulled on over 580 points in
the past two sessions, gathered another 60.18 points at 13,755.76 in
the first five minutes of trading. But, soon after, it lost fields.
With 805 shares advancing compared to 599 that declined, the
market-breadth was robust on BSE; the total turnover on BSE amounted to
Rs 526 crore.
Among the 30-Sensex pack, 16 advanced while the rest declined. In NSE, there were 422 advances and 470 declines.
On strong Q4 results anticipations, the cement stocks soared up for the
second successive day. ACC was listed among the chief gainer in BSE,
which gained 1.16 per cent to Rs 795.65, whereas Ambuja Cements
ascended 0.95 per cent to Rs 113.35.
Among the banking sector, HDFC Bank was the major gainer that attained
1.40 per cent and reached Rs 985. L&T and Bharti Airtel were also
included in the same list.
Satyam was down 3.62 per cent and placed among the major loser in BSE, which is being followed by TCS, Wipro and Infosys.
As indicated by temporary estimations, FIIs were net buyers on Monday.
The stock exchanges have also started bringing out provisionary facts
of every day motion of domesticated institutional investors that
comprise development financial institutional investors, insurance
companies, mutual funds, and banking institutions.
Today, the Asia-Pacific markets were mostly in the red. The prime
benchmark indices in South Korea, Australia, Singapore, Taiwan and Hong
Kong and were down between 0.08 - 0.77 per cent. Australian and South
Korean stocks eased after hitting record highs earlier during the day.
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