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India On Media |
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| Money
News |
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| Markets close flat, Sensex down 0.1 |
| Markets closed flat on Friday with the benchmark index slipping into red by 0.17 per cent or 25 points to end the day at 15,590 levels. The sensitive
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| INDIA
, 7-September-2007
10:18:0 AM |
| In the broader markets Nifty also shed 0.2 per cent to close at 4,505 levels. The 50-share index touched a day low of 4,499 levels in the intra-day deals.
Asian markets closed mixed with Japan's Nikkei losing over 0.8 per cent. Chinese markets posted their biggest losses in one month with Shanghai Composite and Shanghai Shenzen shedding over two per cent each.
Back home even though analysts are bullish in the short-term, they are advising investors to stay invested only in large cap companies.
"The way positions and technicals are, the direction is up. One should stay invested only in frontline stocks, as investors can easily exit from these counters,' Nihar Oza Vice President at Brics Securities said.
Mahindra & Mahindra, Cipla, Tata Motors, ACC and Reliance Energy were the key losers in the BSE-30 pack. They lost over 1.2 per cent each. Hindustan Lever, Reliance Industries, Maruti Udyog and Ranbaxy Laboratories also lost ground.
Zee Entertainment at Rs 306 shed 3.2 per cent was the biggest loser amongst Nifty scrips. SAIL, HCL Technologies, Sterlite Industries and MTNL were some of the key losers. However, Sun Pharma, Hero Honda and NALCO closed on firm ground, they gained over two per cent each.
Realty lose
Real estate index BSE Realty lost over one per cent was the biggest loser among sectoral indices. Auto, metals and oil & gas indices also lost over 0.5 per cent each.
Selling was visible in real estate stocks with Unitech (down 2.4 per cent), Ansal API (down 2.2 per cent), Mahindra Gesco (down 2.1 per cent), DLF (down 2 per cent) and Akruti Nirman (down 1.6 per cent) closing the day in negative territory.
Exide Industries at Rs 62 lost 2.4 per cent was the top loser in auto pack. Ashok Leyland, TVS Motor, Escorts, Bharti Forge, Apollo Tyres and Punjab Tractors also lost over a per cent each.
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