Market sees second biggest fall ever; Sensex slips over 5%

03 March 2008

It was extremely weak day for the markets wherein the Sensex and Nifty opened with huge gap down on the back of weak cues from the global markets. All the key indices traded in deep red through the day barring pharma and auto index which were holding up in green till mid trading session but slipped in late trade.

Banking, realty, power, capital goods, metal and IT stocks were the worst hit counters today. Broader markets also were weak in line with the frontline counters giving abysmal breadth to the markets. On the volume front, the markets disappointed once again.

Sensex ended down 900.84 points or 5.12% at 16677.88, and the Nifty closed down 270.50 points or 5.18% at 4953. About 524 shares have advanced, 2466 shares declined, and 55 shares are unchanged.

BSE auto index slipped 1.02% at 4837.24. Punjab Tractors, M&M and Escorts and MRF have been the worst hit in auto sector.

BSE bankex ended down 7.06% at 9339.97. PNB, Bank Of India and SBi were the top losers.

BSE capital goods index slipped 5.03% at 4463.05. In capital goods space, the top losers were Suzlon Energy, BHEL, Praj Industries and Siemens.