Tuesday, January 20, 2009

Market Close: Equites remain unenthused as they ended the day on a weak note....

On the eve on Barack Obama’s formal entry into the White house, the markets remain unenthused as they ended the day on a weak note. The Sensex closed lower by around 230 points, while the Nifty closed lower by around 50 points. Stocks from the mid-cap and small-cap indices also ended the day on a weak note. While stocks from the metal, realty banking and energy sectors bore the brunt of profit booking, stocks from the power and FMCG space managed to find favour today. Rupee closed at 49.08 against the US dollar. While the Asian markets ended on a weak note today, the European indices are currently trading firm.

Power stocks were charged up Tuesday after the CERC upped return on equity on power companies to 15.5 per cent from the existing 14 per cent. The new return-on-equity is applicable on projects from 2009 to 2014. The return-on-equity for projects completed on scheduled would be calculated at 16 per cent.

Bombay Stock Exchange’s Sensex ended at 9101.66, down 227.91 points or 2.44 per cent. The index touched a high of 9159.76 and low of 9033.55.

National Stock Exchange’s Nifty closed at 2795.80, down 50.4 points or 1.77 per cent. The broader index hit an intra-day low of 2758 and high of 2842.90.


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