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Market Update : 
Sensex Down 18%
Author: 123jump.com Staff
123jump.com
Last Update: 6:15 PM EST February 22 2008


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Latest read on wholsale inflation showed a rise to 4.35%. The rising inflation dragged banks and auto stocks during the trading. Sensex fell 2.2%, and is now 18% below for the year from the peak reached on January 10th. Reliance Communication is acquired a telecom company in Uganda and plans to spend $500 million in African acqusitions.

 
Reliance Industries lost 2.9% to 2,429 rupees.

Reliance Communications fell 1.3% to 581.30 rupees. The company said on Thursday, it had acquired a telecom firm in Uganda and will spend $500 million over the next five years in the African country.

Reliance Power fell 0.2% lower to 421.10 rupees. Reliance Natural Resources fell 2.7% to 132.25 rupees.

Asian Markets

In Tokyo Nikkei 225 Index closed lower 187.82 or 1.37% to 13,500.46, in Hong Kong Hang Seng index decreased 317.96 or 1.35% closed to 23,305.04. Australia ASX 200 index decreased 23.50 or 0.42% to close 5,559.90.

In South Korea Kospi Index decreased 17.91 or 1.05% to close at 1,686.45, in Thailand SET index closed lower 0.27 or 0.03% to 826.86 and Indonesia JSE Index edged increased 6.97 or 0.25% to 2,741.18. Sensex index in India decreased 385.61 or 2.17% to 17,349.07.
  1  2 More: India Market Update Archive

 




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