End Of Day

It was an extremely disappointing day for the market, as well as the economy. Inflation for week ended June 7 came out at 13-year high of 11.05%, which was much more than expected. Global cues were weak and inflation added more fuel to the fire. Panic selling pulled the key indices to new 2008-lows. Sensex ended at 14,571, down 516 points from the previous close. Nifty shut shop at 4347, down 156 points. CNX Midcap and BSE Smallcap indicies lost 3.4% each. Realty, oil & gas, metal and banking stocks took the worst hit. Reliance Communications, Reliance Industries, JP Associates and Hindalco were among the ones that dragged the Sensex lower. But ONGC and Mahindra & Mahindra were the gainers on the Sensex