Equity Alert: Mkt dn 2%; interest rate sensitive sectors worst hit
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K.Karthik Raja
May 22, 2008, 4:07:58 AM5/22/08
to Kences1
Equity Alert: Mkt dn 2%; interest rate sensitive sectors worst hit
1:10PM--Share indices were down 2% on persistent surge in crude
oilprices coupled with worries about high domestic inflation, dealers
said. Market had recouped some losses around noon, but weak open in
Europeanmarkets saw share indices fall again. Key Europe markets
opened down around 1%. Sensex was at 16883.53, down 359.63 points
or 2.1%. Nifty was at 5011.05,down 106.55 or 2.1%. Shares of
interest rate sensitive sectors--banks, auto and real estate--werethe
worst hit on concern RBI may take more monetary tightening measures to
curbinflation, dealers said. Tata Motors and ICICI Bank were down
nearly 4% each, while Unitech was down2.5%. Dr Reddy's Laboratories
up 2%, and Hero Honda up 0.2%, were rare gainerson Nifty.
1:10PM--Share indices were down 2% on persistent surge in crude
oilprices coupled with worries about high domestic inflation, dealers
said. Market had recouped some losses around noon, but weak open in
Europeanmarkets saw share indices fall again. Key Europe markets
opened down around 1%. Sensex was at 16883.53, down 359.63 points
or 2.1%. Nifty was at 5011.05,down 106.55 or 2.1%. Shares of
interest rate sensitive sectors--banks, auto and real estate--werethe
worst hit on concern RBI may take more monetary tightening measures to
curbinflation, dealers said. Tata Motors and ICICI Bank were down
nearly 4% each, while Unitech was down2.5%. Dr Reddy's Laboratories
up 2%, and Hero Honda up 0.2%, were rare gainerson Nifty.
K.Karthik Raja
May 22, 2008, 6:02:57 AM5/22/08
to Kences1
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Equity Alert: Mkt dn 2%; interest rate sensitive sectors worst hit
MUMBAI--1:10PM--Share indices were down 2% on persistent surge in
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