Bears were in command on the bourses as caution prevailed ahead of the weekly inflation data to be released by the government after the trading hours today, 21 August 2008. Rate sensitive realty and banking stocks were clobbered. Weak Asian markets also weighed on the sentiment. Chinese market declined after yesterday’s steep rise.
State Bank of India fell more than 7%. HDFC Bank, NTPC and DLF fell more than 5.5% each. Reliance Infrastructure and ICICI Bank fell more than 5% each.
A key event today is the Nuclear Suppliers Group (NSG) meet in Vienna. The United States is set to push the 45-nation Nuclear Suppliers Group (NSG) to agree on a landmark nuclear deal with India despite objections at home and reservations abroad.
Sensex lost 434.50 points or 2.96% to 14,243.73.
Nifty was down 131.90 points or 2.99% to 4,283.85.
As per the provisional figures on BSE, the foreign institutional investors (FII)'s sold shares worth Rs 545.71 crore while domestic funds bought shares worth Rs 344.89 crore today, 21 August 2008.
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