Business Ideas

Weekly review: Markets get over the 'D' scare

The markets after a strong start to the week, danced to the "D"-word tune in the latter half of the week as derivatives unwinding coupled with the Dubai debt scare saw the index tumble sharply. The Sensex touched a fresh monthly high of 17,290, up 268 points from the previous close in mid-week. However, heavy selling in the last two trading days of the week saw the index tumble to a low of 16,210 - down 1,080 points from the week"s high. On the other hand, Jaiprakash Associates slumped 8% to Rs 215. DLF tumbled 6.5% to Rs 351, and Reliance Infrastructure shed 5.5% at Rs 1,039. ICICI Bank, Infosys, HDFC, Reliance Communications, SBI, Wipro, NTPC, Sterlite, TCS and Larsen & Toubro dropped 3-5% each.

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