Friday, February 20, 2009

Market News 20-02-09

 Weak global cues (Dow near a six-year low and weak Asian cues) saw the Sensex open with a negative gap of 99 points at 8,944, which also turned out to be the high for the day. The index dropped to a low of 8,762 - down 280 points from the previous close of 9,043. The Sensex finally closed with a loss of 199 points (2.21%) at 8,843.

All the sectoral indices closed with losses. The BSE Bankex was down over 3%. Market breadth was bearish - out of nearly 2,500 scrips traded, over 1,635 declined.

ICICI Bank dropped over 7% to Rs 336. Reliance was down 3% at Rs 1,253. L&T slipped nearly  3% to Rs 622. Infosys was also down over 2% at Rs 1,178.

RCom declined over 4% to Rs 155. Reliance Infra, M&M, TCS, Tata Steel and HDFC also declined.

ACC moved up nearly 1% to Rs 554. Maruti was up marginally at Rs 633.

Total market turnover (BSE+NSE) was Rs 52,197 crore. Educomp was the most active counter on the BSE with a turnover of Rs 294 crore followed by Reliance (Rs 170 crore) and United Spirits (Rs 153 crore).

Weekly Review

Sensex, Nifty slide, on weekly basis, for the fifth time out of eight weeks in 2009
Biggest weekly decline for Nifty, Sensex on weekly basis in 2009
Nifty fluctuated 243 points during the week
Sensex gyrated 873 points during the week
Sensex touched a high of 9,637 and low of 8,763pts during the week
Nifty touched 2,953pts on the higher side and low of 2,709 during the week
Second lowest weekly close after 2,678 during the week ended January 25

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