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Friday, December 18, 2009

Nifty ends below 5000 Mark

Friday, December 18, 2009

Indian markets ended lower today amid losses in Asian markets and a decline in realty and oil & gas counters. The Sensex fell 174 points to end at 16,719.

On the NSE, Nifty ended at 4,987, down 54 points.

Realty, oil & gas and banking stocks led the broad based decline in the markets. The BSE realty lost 2 per cent. Sobha Developers, Orbit Corp and Unitech shed over 3 per cent each.

The oil & gas index on the BSE fell 1.7 per cent. RIL and Gail India were down more than 2 per cent each.

Bank stocks also ended lower today. IDBI fell 3.2 per cent and Bank of India dropped 2.4 per cent. ICICI Bank also slipped 2 per cent to Rs 808.

In the Sensex pack, Reliance Industries was the top loser. The stock ended 2.3 per cent lower at Rs 1,010. Sterlite Ind and ICICI Bank shed more than 2 per cent each.

Tata Motors, however, was the biggest gainer. The stock closed up 3 per cent at Rs 732.

Asian stock markets retreated on Friday as worries — from weak job figures in the U.S. to the prospect of more stringent capital requirements for banks — checked appetite for riskier assets. European indexes rose.

Most Asian markets, fatigued after a massive rally since March, were down about 1 percent or less while the dollar fell from a three-month high against the euro but rose versus the yen.

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