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This story is from February 15, 2008
Sensex sheds 185 pts; Satyam, Unitech drag
Markets opened lower on Friday after Federal Reserve chairman said that the outlook for the US economy remains bleak.
MUMBAI: Stocks opened lower on Friday tracking declines in stocks overseas after Federal Reserve Chairman said the outlook for the US economy remains bleak. At 10 am, the Bombay Stock Exchange���s Sensex was down 185 points or 1.04 per cent at 17,581.33. The National Stock Exchange���s Nifty was down 48 points or 0.92 per cent at 5153.90.
Biggest Nifty losers comprised Satyam Computer (down 4.32%), Unitech (3.85%), Cairn India (3.2%), Reliance Communications (3.12%), Reliance Energy (2.77%).
Dow Jones Industrial Average lost 1.4 per cent, the Standards & Poors 500 Index shed 1.34 per cent and Nasdaq Composite Index dropped 1.74 per cent. Asian stocks fell Friday on renewed concern widening credit losses in the US will restrain economic growth, thus affecting Asian exports. The Nikkei was down 1.7 per cent, the Hang Seng fell 2.01 per cent and the Straits Times slipped 0.21 per cent.
Courtesy: http://economictimes.indiatimes.com/
Biggest Nifty losers comprised Satyam Computer (down 4.32%), Unitech (3.85%), Cairn India (3.2%), Reliance Communications (3.12%), Reliance Energy (2.77%).
There were no gainers in the 50-share index. US stocks turned tail after Federal Reserve Chairman Ben Bernanke said the central bank is projecting slower growth for 2008 than in past forecasts.
Dow Jones Industrial Average lost 1.4 per cent, the Standards & Poors 500 Index shed 1.34 per cent and Nasdaq Composite Index dropped 1.74 per cent. Asian stocks fell Friday on renewed concern widening credit losses in the US will restrain economic growth, thus affecting Asian exports. The Nikkei was down 1.7 per cent, the Hang Seng fell 2.01 per cent and the Straits Times slipped 0.21 per cent.
Courtesy: http://economictimes.indiatimes.com/
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