Equity Alert: Shares down 2% but off lows; most bank shares recover
MUMBAI--1:35PM--Share indices were trading off lows, with Nifty
recovering
over 100 points from a near 4% fall earlier to trade above the 4000-
mark at one
point, helped by a recovery in most bank shares, dealers said.
"European markets were also down 1-2%, and it was not panic
selling as one
might have expected," said a dealer.
Sensex was at 13192.26, down 339.01 points, or 2.5%. Nifty was
below the
4000-mark at 3995.00, down 77.90 points, or 1.9%.
State Bank of India was up 2%, while Punjab National Bank rose 1%.
However,
ICICI Bank remained a laggard, falling 8%.
Other gainers included Tata Communications and Hero Honda Motors,
up around
4% each.
"Lower oil prices have also lent support. Market could recover
some more but
would end in negative," said another dealer.
Real estate and technology shares remained weak. DLF and Unitech
were down
over 5% each, while Satyam Computer Services, down over 8%, was the
worst hit
on Nifty.
------------------------------------------------------------------------------
--~--~---------~--~----~------------~-------~--~----~
You received this message because you are subscribed to the Google Groups
"Kences1" group.
To post to this group, send email to [email protected]
To unsubscribe from this group, send email to [EMAIL PROTECTED]
For more options, visit this group at
http://groups.google.com/group/kences1?hl=en
-~----------~----~----~----~------~----~------~--~---
