Market: Indices

08 June 2007

Inflation numbers for week ended May 26 at 4.85% versus 5.06%; market estimated 5.05%. It is much below market expectation and has dropped to 43 week low.

The broader also closed in red but the cut was not as deep as it was in the frontline indices. Selling pressure was seen in scrips across sectors. Metal, auto and FMCG stocks were among the major losers.

The only index to close in green was BSE IT index, it was up over 0.5%.

Even on weekly basis the markets had a bumpy ride with Sensex down 3.5% or 500 points and Nifty down 3.5% or 150 points.

Sensex was down 122.37 points or 0.86% at 14063.81, and the Nifty down 34.50 points or 0.83% at 4145.

About 931 shares have advanced, 1450 shares declined, and 73 shares are unchanged.