Business Daily from THE HINDU group of publications
Saturday, Dec 09, 2006
ePaper


News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Home Page - Stock Markets
Markets - Stocks
Sensex sheds 173 points

Our Bureau


WORRIED STOCK DEALERS looking at the monitor as the BSE Sensex closed down 172 points on Friday. - Paul Noronha

Mumbai , Dec. 8

Selling pressure caused the BSE Sensex to shed 172.54 points or 1.23 per cent to close at 13,799.49 on Friday. The NSE S&P CNX Nifty ended low 53.35 points or 1.33 per cent to close at 3,962. The market succumbed to heavy selling on hectic profit booking in most of the front-line counters.

"The Sensex began trading with a positive gap and rose to touch an intra-day high of 14,009.56. The index soon slipped sharply as the session progressed. We see this as a short correction only," said a dealer at Networth Stock Broking Ltd.

All the BSE indices ended the day in negative. The battered Oil & Gas index dipped 2.21 per cent to close at 6,095.46. The Auto index dipped 1.58 per cent to settle at 5,393.16 points.

Losers and gainers

"The market saw traders squaring," said Mr Lalit Thakker, Director - Research, Angel Broking. "One cannot term the slump as `profit booking' as investors have not made profits selling their holds. The market has hardly moved over the past four days," said Mr Thakker.

Tata Motors (down 2.85 per cent at Rs 866.80), Hindustan Level Ltd (down 2.73 per cent at Rs 233.80) and Reliance Industries (down 2.33 per cent to close at Rs 1,267.80) led the market fall.

Reliance Energy (up 2.85 per cent to close at Rs 555.05) and Dr Reddy's Laboratories (up 2.33 per cent to end at Rs 775.30) were the major gainers of the day. The market breadth was negative on the BSE. Of the 2,655 stocks traded, 1,586 stocks declined, 1,011 stocks advanced and 58 stocks ended unchanged.

Related Stories:
Sensex crosses 14k intra-day
Volatile condition may prevail at Dalal Street

More Stories on : Stock Markets | Stocks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Hiring

Stories in this Section
Rains may lash TN coast from Sunday


Fast food MNCs take Indian recipes overseas
US offshoring tax returns preparation to desi accountants
GSM base crosses 100-m mark
Lower food, energy prices peg down inflation
RBI hikes cash reserve ratio to 5.5 pc
ICICI Lombard plans biometric health cards
Changi seeks to bid for airport modernisation
For pharma, biotech firms, all roads lead to Europe
Lifan, M&M in talks for 2-wheeler venture
Oracle ups open offer price, size for i-flex Solutions
`Top three vendors at strategy crossroads'
Oracle's open offer for i-flex: Regulatory angle
Govt will stand by SBI's capital-raising efforts
Sensex sheds 173 points
Bajaj Auto: Betting on new moves
Tata Tea turns active
ICICI Bank board to take up Sangli Bank merger today
Govt promises to reallocate shares to IPO scam victims


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line