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Market Commentary
Indian Markets take a beating, NIFTY and Sensex down 2%
Posted On : 2007-06-06 08:51:34( TIMEZONE : IST )
The Indian Stock Markets took a beating during Wednesday's (June 6, 2007) trading. The National Stock Exchange's (NSE) index S&P CNX NIFTY closed down by 2.02% at 4198.25. NIFTY opened the day at 4285.75 and went to hit an intraday high of 4324.10. The indices hit an intraday low of 4190.95 and closed the day at 4198.25, down by 86.4 points compared to its previous close of 4284.65.
The Bombay Stock Exchange's (BSE) index Sensex closed the day at 14255.93, down by 279.08 points or 1.92%. Sensex opened the day at 14551.53 and went to hit an intraday high of 14590.82. The indices closed the day at 14255.93 after hitting an intraday low of 14234.07.
Out of 30 stocks in Sensex, 26 declined and only 4 closed higher during the day. In NIFTY, 42 stocks were losers and 8 were gainers out of the total 50 stocks.
Hindalco Industries Ltd was the major gainer during the day with the stock closing up by 1.85% at Rs.148.85 compared to its previous close of Rs.146.15. The stock hit an intraday high of Rs.150 and low of Rs.145.20.
Other gainers in NIFTY includes, Reliance Communication, Siemens, VSNL, Satyam Computer, NALCO, Hero Honda and Grasim Industries.
PNB was the major loser in NIFTY with the stock closing at Rs.509.80, down by Rs.27.65 or 5.14%. SAIL lost Rs.6.50 or 4.68% to close at Rs.132.45 and Zee Entertainment Enterprises Ltd closed down by Rs.13 or 4.27% at Rs.291.60.
The stocks that lost more than 3% include, Tata Steel (Rs.618.30, -3.65%), MTNL (Rs.160.05, -3.53%), ONGC (Rs.864.10, -3.40%), HDFC (Rs.1833.10, -3.40%), BHEL (Rs.1339.45, -3.38%), GAIL (Rs.293.50, -3.33%), SBI (Rs.1389.50, -3.27%), Tata Motors (Rs.688, -3.17%), Suzlon Energy (Rs.1310.90, -3.16%), Reliance Industries (Rs.1691.30, -3.10%), Reliance Petroleum (Rs.98.45, -3.10%).
Other major losers include, ICICI Bank, Maruti, HDFC Bank, Ranbaxy Laboratories, Reliance Energy, Sterlite Industries Ltd, BPCL, ITC, IPCL, Tata Power.
Hindalco Industries (Rs.148.75, +1.88%), Reliance Communication Ltd (Rs.515.55, +0.98%), Satyam Computer (Rs.465.35, +0.43%) and Grasim Industries Ltd (Rs.2451.80, +0.04%) were the major gainers in Sensex.
Tata Steel was the major loser in Sensex with the stock closing down by 3.66% or Rs.23.45 at Rs.617.70. HDFC was the second major loser with the stock closing at Rs.1830.70, down by 3.51% or Rs.66.65.
Other major losers include, Tata Motors, SBI, Reliance Industries, ONGC, Reliance Energy, BHEL, Ranbaxy Laboratories, ICICI Bank, Maruti, HDFC Bank, NTPC and ITC.
