vardaan

Economic times
12th nov, 2007

Real Estate was the worst hit among sectors as weakness persisted in the domestic market on Monday.

BSE’s Realty Index was down 4.62 per cent at 9704, with IndiaBulls Real Estate down 7.9 per cent at Rs 587 and DLF lower by 6.12 per cent at Rs 858. The index has lost 6.62 per cent in one week.

Weakness was also evident in the metal space. BSE Metal Index was down 3.96 per cent at 16,330.95. The index has slipped 6.5 per cent in the past one week.

Banking space has been the major under-performer on a weekly basis, correcting 10.24 per cent. Today the BSE Bankex was down 2.48 per cent. HDFC Bank and ICICI Bank, which are also part of the Sensex, were down 4.78 per cent and 4 per cent at Rs 1,467.95 and Rs 1,121 respectively.

Oil companies have been under pressure on increasing crude oil prices. ONGC and Reliance Industries pulled down the BSE Oil&Gas Index 3 per cent. However, on a weekly basis the sector has lost just 2 per cent compared to others.