Stock Markets slide further

Submitted by Sunil Kashyap on Tue, 03/04/2008 - 08:19

Indian Stock markets were down in early trading session due to continued selling pressure. US markets were down and Indian market had a bad day yesterday.

Investors were cutting their positions in blue-chips and index heavy-weights caused big loss to the benchmark Sensex.
At 1.27 p.m. IST, the BSE Sensex was down by 507 points at 16,170 while NSE Nifty was down by 137 points at 4816.

Among major losers in today’s trading session were Reliance Communications, Omaxe, Reliance Power, Reliance and SBI. Tata Power was down by 11% while banking major PNB lost over 7 percent.

HDFC Bank was down by 3%. VSNL was trading with a loss of 4% at Rs 471.

Auto major Maruti was up by 2.3% and M&M was also trading marginally higher. HLL, HDFC and Rolta were marginally up.

Market breadth was negative and madcap stocks were trading with huge losses.


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