Reports » India

Indian stock market daily closing report (October 08, 2012)

Contributed by Nirmal Bang

The Indian markets ended down more than 1% in today’s trading session on account of profit booking & weak global cues. Heavy selling pressure is observed in all the heavyweights today. But telecom stocks reported a smart rally as the Law Minister Salman Khurshid announced one-time spectrum fee beyond 4.4 MHz for the telecom players.

Kingfisher Airlines hit the lower circuit for the sixth consecutive trading session, as the Directorate General of Civil Aviation (DGCA) - issued a show cause notice to the company asking why its permit should not be cancelled.

The breadth of the market was negative in today’s trade.