Wednesday, November 19, 2008

Sensex ended in red - close below 9000

MUMBAI: Equities pared intra-day gains to end sharply lower Wednesday as investors booked profits at higher levels. Capital goods, power and banks were the worst hit. Fall ins share price of Reliance Industries added to the woes.

Bombay Stock Exchange’s Sensex closed at 8723.31, down 204.89 points or 2.29 per cent. The index touched a low of 8732.31 and high of 9236.27 during the day.

National Stock Exchange’s Nifty ended at 2619.25, down 2.38 per cent or 63.90 points. The broader index touched an intra-day high of 2772.40 and an intra-day low of 2617.90.

ITC (2.61%), Ranbaxy Laboratories (2.14%), Tata Consultancy Services (0.29%) and Mahindra & Mahindra (0.2%) were the only gainers in the 30-share index.

Losses in Reliance Communications (-5.96%), Jaiprakash Associates (-5.74%), Hindalco Industries (5.29%), BHEL (5.25%) and Grasim Industries (5.18%) dragged down the indices.

Shares of Reliance Industries plunged around 7 per cent from intra-day high of Rs 1220 to close Rs 1133.15, down 0.66 per cent from its previous close.

Market breadth on BSE remained negative with 1711 declines against 786 advances.

(All figures are provisional)