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Indices end sharply lower as inflation rises

This article was posted on Nov 6, 2008 and is filed under Market News

MUMBAI: Equities recouped from day’s highs to end sharply lower as higher than expected inflation spooked sentiments. Metals and oil&gas stocks were under pressure while realty and healthcare stocks ended flat. Inflation for the week ended October 25 was at 10.72 per cent against 10.68 per cent a week ago.

Bombay Stock Exchange closed at 9,734.22, down 385.79 points or 3.81 per cent. The Index touched a high of 10109.45 and a low of 9635.22.

National Stock Exchange was at 2,892.65, down 102.30 points or 3.42 per cent. The 50-share index touched an intra-day low of 2,860.25 and a high of 3007.80 intra-day trade.

BSE Midcap Index was down 2.24 per cent and BSE Smallcap Index closed 2.13 per cent down.

Tata Steel (-13.67%), Tata Motors (-12.17%), Sterlite Industries (-11.33%), Reliance Industries (-7.71%) and Hindalco (-7.50%) were the top Sensex losers.

Jaiprakah Associates (4.10%), Ranbaxy Laboratories (3.72%), Hindustan Unilever (3.05%) and DLF (2.46%) were the top gainers.

Market breadth was negative on the BSE with 1633 declines and 869 advances.

source: Economictimes

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