Wednesday, March 14, 2007

Markets plunge even deeper

The crack is getting deeper on account of heavy selling witnessed across the board. All the key indices are trading in deep red, however the realty sector is holding up despite all odds. The markets breadth is miserable.

At 14.30 pm the sensex is down 447 points at 12535 while Nifty is at 3646 down by 124 points.Reliance Industries shed nearly 3% to Rs 1288.ONGC lost nearly 4% to Rs 775.50. Cement shares were in the red. ACC lost 3% to Rs 727.45, Grasim shed 2% to Rs 2011 and Gujarat Ambuja Cements dropped 2.7% to Rs 103.ITC weakened in the afternoon. The stock was down 3.6% to Rs 143.60. From a high of Rs 172.50 on 1 March 2007, the scrip has lost 16.7%.

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