Sensex ends gaining streak, loses 292 points
Sensex, which opened at 15,577 points, touched a low of 15,124.91 points before closing at 15,212 points.business Updated: Aug 12, 2008 17:24 IST
Indian equity markets ended their five-day gaining streak and closed with a deep cut following disappointing index for industrial production (IIP) numbers and weak European markets.
India's industrial growth was a mere 5.4 per cent in June, down from 8.9 per cent in the same month last year.
Banking, metal and information technology shares dragged the market down.
The markets started on a positive note but slipped into the red by afternoon, witnessed a bout of volatility in the last hour of trade, and ended the day in the negative.
The 30-share benchmark of the Bombay Stock Exchange (BSE) sensitive index (Sensex), which opened at 15,577.20 points, touched a low of 15,124.91 points before closing at 15,212.13 points. It went down 291.79 points or 1.88 per cent at the day's close.
The National Stock Exchange (NSE) S&P Nifty, which opened at 4620.95 points, closed at 4,552.25 points, falling 68.15 points or 1.47 per cent.
The BSE Midcap index, which closed at 5,935.53 points, went down 47.15 points or 0.79 per cent.
The BSE Smallcap index, which closed at 7,220.42 points, fell 50.93 points or 0.7 per cent.
The market breadth was negative. On the BSE, 1,100 shares advanced, 1,556 declined and 73 maintained the status quo.
Top gainers of the day included ITC Ltd, which at Rs.193.20 went up 1.91 per cent, Grasim Industries at Rs.2,069.80 rose 0.83 per cent, and Mahindra and Mahindra at Rs.590.95 increased 0.75 per cent.
Top losers of the day included Tata Steel, which at Rs 644.80 lost 5.71 per cent, Maruti Suzuki at Rs.715.50 went down 5.23 per cent, and Jaiprakash Associates at Rs.197.60 fell 4.58 per cent.