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Sensex sheds 264 points to close below 9K
By siliconindia
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Friday, 05 December 2008, 23:27 IST |
2 Comments
Mumbai: Just ahead of the fiscal stimulus package, which is likely to be announced on Saturday, the benchmark indices witnessed profit booking and lost more than half of gains seen on Thursday. The 30-share Sensex closed at 8,965.20 with a loss of 264.55 points or 2.87 percent, while the 50-share NSE Nifty finished at 2714.40, down 73.60 points or 2.64 percent from previous close.
Commodities, technology, banking stocks, infrastructure stocks, Bharti Airtel, NTPC and DLF were the losers of the day.
BSE Midcap was down 29.85 points or 1.02 percent at 2,892.95 and Small Cap Index fell 8.26 points or 0.25 percent to 3,323.54. Nifty Midcap 50 closed 1167.10, down 2.11 percent.
Global indices were choppy ahead of the U.S. November employment report, which analysts speculate will be worst since last quarter. Crude related stocks & base metal stocks saw profit booking. Crude headed for its biggest weekly decline since March 2003.
Asian markets ended mixed. Hang Seng and Kospi rose 2-2.5 percent. Shanghai and Straits Times gained 0.9 percent. However, Nikkei, Taiwan and Jakarta lost 0.08-0.7 percent.