Wednesday, June 27, 2007

Markets drift lower on weak global equities

The markets drifted lower today as selling pressure continued throughout the day. Markets may remain volatile tomorrow ahead of expiry of June 2007 derivatives contracts tomorrow, 28 June 2007. All the Asian and European markets, with the exception of China, slipped today, 27 June 2007.

The Nifty closed at 4,264 down 22 points, while the Sensex shut shop at 14,431 down 70 points.

IT stocks saw steady buying throughout the day.Satyam Computers spurted 2.76% to Rs 469. It was the top gainer from the Sensex pack. Other stocks from the IT pack -- Wipro (up 0.10% to Rs 509.15), TCS (up 0.80% to Rs 1131.40) and Infosys Technologies (up 0.65% to Rs 1935) -- also gained.

Housing finance major HDFC rose 0.80% to Rs 1,900.Index heavyweight Reliance Industries (RIL) lost 0.38% to Rs 1,697.Reliance Communications (down 2.39% to Rs 513.20), Reliance Energy (down 2.02% to Rs 577.90) and NTPC (down 2.22% to Rs 150), were the other losers.

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