Friday, July 11, 2008
BSE 13469.85 -456.39 -3.28%
NSE 4,049.00 -113.20 -2.80%
Last trading day: Friday, 11 July
This week started with a lots of hope and speculation. Hope for the market to be stable and specualtions over political stability. Both worked vice-versa. With the Left withdrawing its support to the government, high crude oil prices, the start of the result season and poor economic data, the market had a lot of news to deal with. It lost almost all the gains it made during the beginning of the week on the last day. Sensex gained just 0.3% and Nifty, 1% over the week. CNX Midcap index gained 1.8% and BSE Smallcap index, 4%.
IT heavyweight Infosys' first quarter numbers came in line with market expectations, but even that could not save the market from falling to crucial levels today. In fact, technology stocks saw huge selling pressure today. Poor economic data (inflation and IIP numbers), along with rising crude oil prices also played significant roles in spoiling the market sentiment. Sensex ended at 13,469, down 456 points from the previous close. Nifty shut shop at 4049, down 113 points. CNX Midcap and BSE Smallcap indices lost 2.4% and 1.3% respectively. All BSE sectoral indices closed lower, but that for IT, capital goods and power got hit the most. So the biggest losers on the Sensex included JP Associates, TCS, Infosys and L&T, while gainers were Ambuja Cements, HDFC Bank, Cipla and Bharti Airtel, among others.
NSE 4,049.00 -113.20 -2.80%
Last trading day: Friday, 11 July
This week started with a lots of hope and speculation. Hope for the market to be stable and specualtions over political stability. Both worked vice-versa. With the Left withdrawing its support to the government, high crude oil prices, the start of the result season and poor economic data, the market had a lot of news to deal with. It lost almost all the gains it made during the beginning of the week on the last day. Sensex gained just 0.3% and Nifty, 1% over the week. CNX Midcap index gained 1.8% and BSE Smallcap index, 4%.
IT heavyweight Infosys' first quarter numbers came in line with market expectations, but even that could not save the market from falling to crucial levels today. In fact, technology stocks saw huge selling pressure today. Poor economic data (inflation and IIP numbers), along with rising crude oil prices also played significant roles in spoiling the market sentiment. Sensex ended at 13,469, down 456 points from the previous close. Nifty shut shop at 4049, down 113 points. CNX Midcap and BSE Smallcap indices lost 2.4% and 1.3% respectively. All BSE sectoral indices closed lower, but that for IT, capital goods and power got hit the most. So the biggest losers on the Sensex included JP Associates, TCS, Infosys and L&T, while gainers were Ambuja Cements, HDFC Bank, Cipla and Bharti Airtel, among others.
Subscribe to:
Comments (Atom)
Posts
