Visit http://indiaer.blogspot.com/ for complete details �� ��
Markets fall on global cues
Markets fell significantly during the week, with the Sensex ending the week
3.5% lower, while the S&P CNX Nifty declined 3.4%. The fall in the indices
was backed by negative global cues and weak IIP data. IIP for September
2010 fell to 4.4% compared to 8.2% in the corresponding period of last
year. This combined with a fall in the global equity markets sent jitters across
the Indian stock markets, leading to a fall in the benchmark indices. However,
the BSE mid- and small-cap indices outperformed their large-cap
counterparts, with the mid-cap index falling 1.2% and the small-cap index
gaining 0.3% during the week. On the sectoral front, the BSE Realty Index
was the biggest loser, declining by 6.0%. It was followed by the BSE Bankex
index, which fell 5.3%. The BSE Healthcare sector was relatively strong,
losing only 0.7% of its value.
Realty Index
During the turbulent week, the realty index fell 6.5% widely underperforming
the Sensex, which fell 3.5%. The realty index weakened on fears of slow down
in demand after the RBI increased banks' provisioning requirements for lending
to the real estate sector. Also, DLF announced weak sales volumes and decline
in bottom-line for 2QFY2011, which weighed on the sector. The top losers
included Sobha Developers (-11%), Unitech (-9.6%), DLF (-8.3%), HDIL
(-6.0%) and Akruti City (-4.5%).
No comments:
Post a Comment