Monday, June 23, 2008

Sensex Loses 231 Pts As Blue Chips Decline Sharply - June 23, 2008

Sensex loses 231 pts as blue chips decline sharplyAfter a highly negative start and a subsequent small recovery, the market has declined sharply once again following a strong round of selling in several large and mid cap stocks.

The Sensex, which had recovered to 14,509 after a weak start, has now slipped to 14,340.79, netting a big loss of 230.50 points or 1.58%. The Nifty has lost 1.48% or 64.25 points at 4283.30.

Jaiprakash Associates, the biggest loser among Sensex stocks this morning, is down by as much as 5.3% at Rs 157.30. Larsen & Toubro has lost 3.75% at Rs 2583.70. Hindalco is down by 3.4% at Rs 155. Ranbaxy Laboratories, Reliance Industries and Tata Steel have lost 2% - 2.5%.

Bharti Airtel, BHEL, ACC, Cipla, Reliance Communications, Mahindra & Mahindra, DLF, Reliance Infrastructure, State Bank of India, HDFC Bank, Hindustan Unilever, HDFC, Maruti Suzuki and ICICI Bank are also down with sharp losses.

Suzlon Energy has slipped by 5.3% to Rs 230.75. BPCL has lost over 5% at Rs 251.10. Tata Power, Unitech, Siemens, Punjab National Bank, Nalco, ABB, Power Grid and Idea Cellular have lost 2% - 5%. Reliance Petroleum, Hero Honda, Zee Entertainment and Sun Pharmaceuticals have also declined sharply.

Cairn India, HCL Technologies, ONGC, Satyam Computer Services, GAIL India, Wipro, Tata Consultancy Services, ITC and Infosys Technologies hold on in the positive territory with sharp to moderate gains.

Brigade Enterprises, Sobha Developers, Gujarat Petronet, Maytas Infra, EIH, Ansal Infrastructure, Gujarat Minerals, UCO Bank, Hindustan Petroleum Corporation, Essar Oil, Reliance Industrial Infrastructure, Jai Corp, HDIL, Nicholas Piramal, Godrej Industries, Tat Power and Adani Enterprises are among the big losers from BSE 'A' Group.

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