Market: Indices

21 August 2007

It was an extremely weak and disappointing session for the markets after yesterday's surge. The markets opened in red and saw a sharp fall during the last few hours of trade. Asia opened in green but came off the highs and Dow also closed flat yesterday suggesting some weak cues.

Apart from global weakness there is also political unceratinity regarding the Indo-US nuclear deal. Sensex saw a fall of over 400 points breaching the 14,000 mark and the Nifty was around 4065 levels testing its 200 day moving average (DMA). Broader markets underperformed the frontline indices showing a savage cut of 3%. All the BSE sector indices closed in red and among the worst hit were bank, IT, telecom and realty stocks.

Sensex was down 438.44 points or 3.04% at 13989.11, and the Nifty down 134.15 points or 3.19% at 4074.90.

About 654 shares have advanced, 2298 shares declined, and 54 shares are unchanged.