Stock Market Updates for the Day (4th August '11)
Amid mounting worries about the global economy on the back of some weak data from the U.S., and parts of Asia and Europe, and on concerns about the impact of high interest rates on economic growth and corporate earnings in the country, investors went on a selling spree this morning, tracking cues from its Asian peers.
After a weak start and a subsequent sharp fall in morning trades, the market did manage a couple of smart rallies as the session progressed but still ended the day on a highly negative note with key stocks from capital goods, automobile and information technology sectors posting notable losses.
Pharmaceuticals and bank stocks too mostly ended weak. Realty stocks Realty stocks started off on a dismal note but regained some lost ground in late afternoon trade to end well off their lows. Metal stocks too recovered after a weak start. Oil, power and FMCG stocks closed mixed.
The Sensex, which plunged to 17,859.60 a little past noon, ended the day at 17,940.55, recording a loss of 169.34 points or 0.94%, while the Nifty closed at 5404.80, off the day's low of 5378.85 with a loss of 51.75 points or 0.95%.
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