Saturday, March 8, 2008
Weekly market Update as on 8th March 2008


Equity Market Update

 
During the week, the Sensex lost 9.12% to close below 16000 at 15975. The entire week was mired in huge volatility due to (1) proposals in Union Budget FY 2008 - 09 to increase the short-term capital gains tax to 15% from 10% and changes in provisions of Securities Transaction Tax and (2) continued weakness in global markets. The fall was led by Banking stocks. Bankex was down by 16%, led by (1) uncertainty over the Rs.600 bn farm loan waiver scheme and (2) ICICI Bank’s MTM losses in its credit derivatives and international fixed income portfolio..
Key Equity Indices
Week at
Glance

3/3/2008

3/4/2008

3/5/2008

3/7/2008

 Last Week

Week on Week
% change
Sensex

16677.88

16339.89

16542.08

15975.52

17578.72

-9.12%
S&P CNX Nifty

4953.00

4864.25

4921.40

4771.60

5223.50

-8.65%
BSE IT

3692.49

3614.41

3752.47

3638.44

3862.45

-5.80%
BSE PSU

7999.93

7824.73

7830.96

7578.50

8484.16

-10.67%
BANKEX

9434.44

9056.76

8916.03

8477.46

10113.73

-16.18%
Source : BSE & NSE




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