Friday, June 22, 2007

Market snaps three-day winning streak

The market edged lower today, 22 June 2007, after rallying consecutively in the previous three trading sessions. Global markets played spoilsport today.

The Sensex lost 31.88 points or 0.22% at 14,467.36.The S&P CNX Nifty settled with loss of 15.35 points, or 0.36%, to 4,252.05 today.

Reliance Energy (REL) galloped 6% to Rs 594.10 on 11.04 lakh shares.ICICI Bank saw high volatility today. It rose 0.14% to Rs 951.05.State Bank of India (SBI) advanced for the fourth straight session, gaining 0.73% to Rs 1456.Gujarat Ambuja Cements lost 2.72% to Rs 116.15.Index heavyweight Reliance Industries (RIL) slipped 1.86% to Rs 1,701 on 8.55 lakh shares.

IT stocks were hit by fresh selling. The BSE IT index lost 28.76 points or 0.69% at 4,858.09. Satyam Computers (down 0.92% to Rs 462.50), TCS (down 0.41% to Rs 1139), Infosys (down 0.43% to Rs 1948), and Wipro (down 1.51% to Rs 515.95) declined. A rise in rupee impacts margins of IT companies.

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