Markets slump
The market slumped in early trade with barometer index BSE Sensex falling below 20,000 mark on weak global markets. The S&P CNX Nifty fell below 6,000. Capital goods and power stocks declined. FMCG stocks edged higher. Reliance Industries declined. Market breadth was strong. Asian markets which opens before Indian markets were trading lower today. US stocks slumped on Friday, 14 December 2007, on concerns that surging inflation may prevent the Federal Reserve from lowering interest rates.The market continued its downward journey in afternoon trade.
At 13.45 pm, the Sensex is down 352.70 points or 1.76% at 19678.13, and the Nifty down 155.55 points or 2.57% at 5892.15.
Reliance Industries declined 1.77% to Rs 2,838.Reliance Communications declined 1.88% to Rs 745.65 after the company today said it has completed the acquisition of US-based Yipes Holdings that would give the company access to a Rs 4,00,000 crore global enterprise data market.
Metal stocks slumped. Tata Steel (down 1.26% to Rs 866.75), Sterlite Industries (down 3.97% to Rs 1,024), National Aluminium Company (down 3.2% to Rs 434.95), Steel Authority of India (down 2.38% to Rs 273.25) and Hindalco industries (down 3.69% to Rs 204.90) edged lower.
Banking stocks declined. ICICI Bank (down 1.06% to Rs 1,194), HDFC Bank (down 3.71% to Rs 1,664.50) and State Bank of India (down 2.01% to Rs 2,362.15) edged lower.
Power stocks declined. Reliance Energy (down 1.23% to Rs 1,886), NTPC (down 2.78% to Rs 239.75), Tata Power Company (down 0.07% to Rs 1,298.20) and Power Grid corporation (down 2.71% to Rs 141.70) edged lower.
FMCG majors rose. ITC (up 1.62% to Rs 203.85) and Hindustan Unilever (up 0.92% to 219) edged higher.
Realty stocks declined. Peninsula Land (down 5.49% to Rs 139.50) , DLF (down 1.49% to Rs 1,005.90), Indiabulls Real Estate (down 6.95% to Rs 688.95) and Unitech (down 1.82% to Rs 469.65) edged lower.
Cipla (up 1.84% to Rs 213), Infosys (up 0.23% to Rs 1,651.65), Ambuja Cements (up 0.54% to Rs 150.25) edged higher.
Bharti Airtel (down 4.57% to Rs 909), ONGC (down 4.59% to Rs 1,182) and Tata Motors (down 3.46% to Rs 718.70) edged lower.
Petron Engineering Construction rose 6.86% to Rs 402 after it received two construction orders for power plant units, totally worth Rs 98.90 crore.
Phoenix Lamps rose 6.66% to Rs 213.05 on reports the firm is close to striking multiple buyout deals in India and aboard and one of the targets is belived to be the lighting business fo Surya Roshni
Real estate firm Phoenix Mills rose 0.66% to Rs 2,587.65 after it said on Friday its board would meet on 19 December 2007 to consider stock split.
Asian markets were trading lower today, 14 December 2007. Hong Kong's Hang Seng (down 3.57% at 26,580.38), Taiwan's Taiwan Weighted (down 3.54% at 7,830.85), Singapore's Straits Times (down 2.43% at 3,382.29), Shanghai Composite (down 2.53% to 4,881.40), Japan's Nikkei (down 1.71% to 15,249.79), South Korea's Seoul Composite (down 2.91% at 1,839.82) declined.
At 13.45 pm, the Sensex is down 352.70 points or 1.76% at 19678.13, and the Nifty down 155.55 points or 2.57% at 5892.15.
Reliance Industries declined 1.77% to Rs 2,838.Reliance Communications declined 1.88% to Rs 745.65 after the company today said it has completed the acquisition of US-based Yipes Holdings that would give the company access to a Rs 4,00,000 crore global enterprise data market.
Metal stocks slumped. Tata Steel (down 1.26% to Rs 866.75), Sterlite Industries (down 3.97% to Rs 1,024), National Aluminium Company (down 3.2% to Rs 434.95), Steel Authority of India (down 2.38% to Rs 273.25) and Hindalco industries (down 3.69% to Rs 204.90) edged lower.
Banking stocks declined. ICICI Bank (down 1.06% to Rs 1,194), HDFC Bank (down 3.71% to Rs 1,664.50) and State Bank of India (down 2.01% to Rs 2,362.15) edged lower.
Power stocks declined. Reliance Energy (down 1.23% to Rs 1,886), NTPC (down 2.78% to Rs 239.75), Tata Power Company (down 0.07% to Rs 1,298.20) and Power Grid corporation (down 2.71% to Rs 141.70) edged lower.
FMCG majors rose. ITC (up 1.62% to Rs 203.85) and Hindustan Unilever (up 0.92% to 219) edged higher.
Realty stocks declined. Peninsula Land (down 5.49% to Rs 139.50) , DLF (down 1.49% to Rs 1,005.90), Indiabulls Real Estate (down 6.95% to Rs 688.95) and Unitech (down 1.82% to Rs 469.65) edged lower.
Cipla (up 1.84% to Rs 213), Infosys (up 0.23% to Rs 1,651.65), Ambuja Cements (up 0.54% to Rs 150.25) edged higher.
Bharti Airtel (down 4.57% to Rs 909), ONGC (down 4.59% to Rs 1,182) and Tata Motors (down 3.46% to Rs 718.70) edged lower.
Petron Engineering Construction rose 6.86% to Rs 402 after it received two construction orders for power plant units, totally worth Rs 98.90 crore.
Phoenix Lamps rose 6.66% to Rs 213.05 on reports the firm is close to striking multiple buyout deals in India and aboard and one of the targets is belived to be the lighting business fo Surya Roshni
Real estate firm Phoenix Mills rose 0.66% to Rs 2,587.65 after it said on Friday its board would meet on 19 December 2007 to consider stock split.
Asian markets were trading lower today, 14 December 2007. Hong Kong's Hang Seng (down 3.57% at 26,580.38), Taiwan's Taiwan Weighted (down 3.54% at 7,830.85), Singapore's Straits Times (down 2.43% at 3,382.29), Shanghai Composite (down 2.53% to 4,881.40), Japan's Nikkei (down 1.71% to 15,249.79), South Korea's Seoul Composite (down 2.91% at 1,839.82) declined.
Labels: Nifty.Sensex
posted by SY at 1:59 PM
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