Market: Indices

06 June 2007

After last few sessions of sluggish trade the markets saw a deep crack today and ended with some hefty losses. It was trading flat for major part of the day but saw a heavy sell off during the later part of the day. On the F&O side there were concerns of discount widening, Nifty closed with 27 points discount.

Selling was seen in scrips across indices. All the BSE sector indices closed in red, banking and oil & gas led the downtrend. Steel majors Tata Steel and SAIL closed in deep red. It was a bad day for European markets as well but most of the Asian markets ended flat.

The broader markets also ended with deep cut but the frontliners underperformed the midcap and smallcap indices. The market breadth was extremely negative and this fall has been huge volumes.

IT index which was holding in green for better part of the day gave up its gains and closed in red with moderate losses.

Sensex is down 279.08 points or 1.92% at 14255.93, and the Nifty down 86.40 points or 2.02% at 4198.25.

About 813 shares have advanced, 1688 shares declined, and 65 shares are unchanged.