After the bell : 05-12-2008 | Break on Gain

By Abhishek on 10:28 PM

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Sensex closed at 8965.20 shed's 265 points , while Nifty slips 74 points at 2714

It was a bad day for Indian Market, taking a clue from yesterday 500 points moves, market opened in negative for 25 points. All though it was a mixed with clues, asian indices were trading in positives at the time of opening of our indices. Indix sliped to lower levels on selling in Index heavyweight Reliance Industries (RIL), metal and IT stocks. Media reports of a shootout at New Delhis international airport early on Friday, 5 December 2008, marred the investor sentiment which also pulled the market down in a highly volatile trade as concerns about the weakening global economy, lower European markets.  However it tried to touch the dotted line in the rally but failed to manage.  In giving away more than half of yesterdays gains, the Indian markets saw widespread selling in todays trade, especially during the final two hours of trade. Sensex ended 264.55 points lower at 8965.20 while nifty shuts shop falling 73.60 points at 2714.40  .

Sectoral : Baring yesterday strenght all the BSE sectoral indices ended in red except Auto. Worst affected indices was Consumer Durables ( CD ) and IT plunging 4.37% and 4.36% respectively. Select counters, however, bucked the downtrend and ended with gains. Tata Motors advanced 1.46% at Rs153.10 and Grasim Industries moved up by 1.01% at Rs938, while Maruti Suzuki India and Reliance Communications ended with modest gains. On the other side, P Associates slumped 6.62% at Rs66.35, Tata Consultancy Services slipped 5.10% at Rs521.70

Asian Market : Selling was visible in Asian indices as Dow shed's more than 250 points on Thursday. However it manage to closed arnd flat to negative. Japan Nikkei 225 index closed down by 6.73 or 0.08% points at 7917.51 . Hong Kong exchange gains 336.31 or 2.49% points and closed at 13846.09  . Mainland China index Shanghal  Composite closed green with 17.15 or 0.94% points at 1659.17 . Indian Market shows opposite sign and underperform the region.

European Markets : European markets opened lower and remain subdued during the whole trading session. London based FTSE 100 closed at 4,049.37 shedding 114.24 points or 2.74% . Germany Frankfut based DAX closed at 4,381.47 shedding 182.76 points or 4.00% .  France based CAC 40 index closed at  2,988.01 tumbling 173.15 points or 5.48% .

American Market : US markets started their day on negative nod, but some last 100 minutes buying in Fiancial and Insurance stocks helps indices to close on higher levels. All major US indices closed in deep green despite of european closing and set a opening clues for Asian markets . Dow closed at 8,635.42 gaining 259.18 points or 3.09% . Tech based Nasdaq index closed at 1,509.31 adding 63.75 points or 4.41% . S&P 500 index closed at 876.07 after a gain of 30.85 points or 3.65% .



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