Sensex ended down 111 points
The Sensex opened on a positive note at 19,552.53 points, tracking firm Asian
markets and rallied to a high of 19,678.50 on all-round buying. However, intense
selling due to steep fall in European markets and concerns of foreign capital
inflows drying up saw the index slip to a low of 19,249.47. The Sensex finally
ended down 110.84 points or 0.57% at 19,289.83.
The Nifty ended in red in a volatile trading session and closed at 5,782.35, down
by 4.15 points.
Market breadth weak negative
The market breadth was weak on BSE - out of the 2,779 stocks that were traded,
1,028 advanced, 1,674 declined and 77 were unchanged. The
advance-decline ratio was 0.61.
IT stocks fell
The BSE IT index was the biggest loser among the sectoral indices. It lost 197.27
points or 4.34% at 4,343.42. Major software stocks declined as rupee climbed to
its highest since March 1998.
Infosys tripped
Infosys Technologies was the worst hit among index stocks. It lost 5.78% to
Rs. 1,743.85. HDFC Bank (down 5.16%), Satyam Computer (down 4.03%), ICICI
Bank (down 2.98%), and Reliance Communications (down 2.5%) were the other
major losers on the Sensex.
Hang Seng gained; Nikkei fell
The Hang Seng Index rose 0.92% to 29,708.93 on blue-chip gains and broker
moves.
The Nikkei 225 index fell 0.94% to 16,096.68 points amid political uncertainty and
profit-taking in steel and construction shares.
International News Headline:
· US non-farm business productivity swelled at a 4.9%
annualized rate between July and September while labor costs
fell 0.2% last quarter, the biggest drop since the second quarter
of 2006. The latest data may ease some worries of the Fed
Reserve about the economy's ability to grow without sparking
inflation. (WSJ)
· Morgan Stanley will take a $3.7 bn write-down in the fourth
quarter as the Wall Street firm grapples with its exposure to the
US subprime market. (WSJ)
The Sensex opened on a positive note at 19,552.53 points, tracking firm Asian
markets and rallied to a high of 19,678.50 on all-round buying. However, intense
selling due to steep fall in European markets and concerns of foreign capital
inflows drying up saw the index slip to a low of 19,249.47. The Sensex finally
ended down 110.84 points or 0.57% at 19,289.83.
The Nifty ended in red in a volatile trading session and closed at 5,782.35, down
by 4.15 points.
Market breadth weak negative
The market breadth was weak on BSE - out of the 2,779 stocks that were traded,
1,028 advanced, 1,674 declined and 77 were unchanged. The
advance-decline ratio was 0.61.
IT stocks fell
The BSE IT index was the biggest loser among the sectoral indices. It lost 197.27
points or 4.34% at 4,343.42. Major software stocks declined as rupee climbed to
its highest since March 1998.
Infosys tripped
Infosys Technologies was the worst hit among index stocks. It lost 5.78% to
Rs. 1,743.85. HDFC Bank (down 5.16%), Satyam Computer (down 4.03%), ICICI
Bank (down 2.98%), and Reliance Communications (down 2.5%) were the other
major losers on the Sensex.
Hang Seng gained; Nikkei fell
The Hang Seng Index rose 0.92% to 29,708.93 on blue-chip gains and broker
moves.
The Nikkei 225 index fell 0.94% to 16,096.68 points amid political uncertainty and
profit-taking in steel and construction shares.
International News Headline:
· US non-farm business productivity swelled at a 4.9%
annualized rate between July and September while labor costs
fell 0.2% last quarter, the biggest drop since the second quarter
of 2006. The latest data may ease some worries of the Fed
Reserve about the economy's ability to grow without sparking
inflation. (WSJ)
· Morgan Stanley will take a $3.7 bn write-down in the fourth
quarter as the Wall Street firm grapples with its exposure to the
US subprime market. (WSJ)
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