Equity Alert: Key indices end 2-3% down on fall in overseas markets
MUMBAI--3:40PM--Fall in overseas markets and unwinding of
positions
ahead of September futures contract expiry Thursday pushed local share
indices 2-3% down at close, dealers said.
Sensex provisionally ended at 13563.96, down 431.00 points or 3.1%
from
Monday. Nifty provisionally ended at 4126.90, down 96.15 points or
2.3%.
Ranbaxy Laboratories tumbled 11% as investors sold excess shares
that
were credited to their accounts after Japanese drug maker Daiichi
Sankyo's
open offer for acquiring additional 20% in the company was
oversubscribed.
Satyam Computer Services and DLF, down around 7% each, were other
major
Nifty losers. Bank shares also fell, with ICICI Bank down 6%.
Sun Pharmaceutical Industries, up 3%, was top Nifty gainer on
defensive
buying, dealers said.
Bharat Petroleum Corp gained 2%, recouping losses incurred earlier
in the
session, as global crude oil prices gave up gains.
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