Markets fall as Satyam cloud refuses to blow over
By IANSThursday, January 8, 2009
MUMBAI - Indian equities markets closed in the red as investors resorted to heavy selling amid negative sentiments following the Satyam scandal, with a key index closing 1.88 percent lower than its previous close Wednesday.
The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) shut shop 1.88 percent or 180.41 points down at 9,406.47 points after opening lower than Wednesday’s close of 9,586.88 points.
The broader S&P CNX Nifty index of the National Stock Exchange (NSE) closed at 2,873.4 points, 1.62 percent lower than Wednesday’s close.
Other market indices also ended in the red. The BSE midcap index, which was down 2.41 percent over its previous close, while the smallcap index closed 2.92 percent lower.
Of the 13 sectoral indices, metal and realty stocks were the hardest hit. BSE realty index was down 5.15 percent over its Wednesday close, while the metal index fell the most: 7.16 percent.
The market sentiment was negative; 1,873 stocks declined against 584 advances, while 61 stocks remained unchanged.
Of the 30 stocks on the Sensex, 19 lost out Friday while 11 scrips ended in the positive terrain.
Tata Consultancy Services (up 6.34 percent to close at Rs.503), Hindustan Unilever (up 4.79 percent to Rs.251.45) and NTPC (up 4.03 percent at Rs.171.20) were among the top gainers Friday.
On the other hand, top losers included Satyam Computers (down 40.30 percent to close at Rs.23.85), Reliance Communication (down 9.61 percent to close at Rs.186.65) and Sterlite Industries (down 9.55 percent to Rs.273.10).
