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Sensex continues downslide on the fifth day
By siliconindia
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Saturday, 19 January 2008, 17:36 IST
Mumbai: Sensex continued the downslide on the fifth day of trade closing at a loss of 687 points (3.5 percent) on Friday. After exhibiting weakness in morning trades, the index touched a high of 19,716 and slipped to lower level
The last one-hour of trade saw the index tumble to a low of 18,930 - down 786 points from the day's high. The Sensex finally ended with a heavy loss of 3.5 percent (687 points) at 19,014. The index thus shed 8.7 percent (1,813 points) during the week.
The NSE Nifty plunged 3.5 percent (208 points) to 5,705.
The BSE market breadth was extremely negative - out of 2,890 stocks traded, 2,505 declined, 362 advanced and 23 were unchanged today.
While Reliance slumped 6.5 percent to Rs 2,800, DLF tumbled 7.4 percent to Rs 1,006.
NTPC plunged 6.3 percent to Rs 240. ICICI Bank shed 5.8 percent at Rs 1,245, and HDFC Bank dropped 4.3 percent to Rs 1,576. Reliance Energy shed 4 percent at Rs 2,124. Reliance Communications and Larsen & Toubro slipped 3.7 percent each to Rs 702 and Rs 3,930, respectively.
Tata Steel, Tata Motors and ONGC declined around 3.5 percent each to Rs 782, Rs 712 and Rs 1,209, respectively. Mahindra and Mahindra and Maruti slipped over 3 percent each to Rs 728 and Rs 840, respectively. Cipla and Hindalco also shed 3 percent each at Rs 202 and Rs 185, respectively.
The shares of public companies like SBI and BHEL declined 2 percent each to Rs 2,368 and Rs 2,302, respectively. TCS and ITC also dropped 2 percent each at Rs 904 and Rs 213, respectively.
Ranbaxy Laboratories soared 5 percent to Rs 387. Grasim gained one percent at Rs 3,341.
Reliance topped the value chart with a turnover of Rs 494 crore followed by HDFC (Rs 414 crore), Reliance Natural Resources (Rs 389 crore), Reliance Energy (Rs 320.50 crore) and ICICI Bank (Rs 221.40 crore).
Reliance Natural Resources led the volume chart with trades of around 1.83 crore shares followed by Himachal Futuristic (1.78 crore), Bellary Steel (1.28 crore), Ispat Industries (1.25 crore) and Reliance Petroleum (1 crore).