Nifty closes near 4950; IT, capital goods down
                                          
                                             World stock markets tumbled on Thursday as investors fretted over the debt problems at Dubai World, a government investment company


Markets are usually relatively quiet when Wall Street is closed for a holiday, as it is Thursday for Thanksgiving Day. Not so today, as the rest of the world digested the stunning news from Dubai that the government's flagship investment company was in financial trouble.

National Stock Exchange’s Nifty ended at 4942.40, down 63.15 points or 1.26 per cent. The index touched an intraday low of 4806.70 and high of 5005.05.



Bombay Stock Exchange’s Sensex closed at 16,647, down 207.93 points or 1.23 per cent. The 30-share index hit a low of 16210.44 and high of 16718.80.

BSE Midcap Index was down 1.31 per cent and BSE Smallcap Index declined 2.12 per cent.

Amongst the sectoral indices, BSE IT Index was down 2.38 per cent, BSE Capital Goods Index fell 1.71 per cent and BSE Metals Index slipped 1.44 per cent.


Nifty gainers comprised Suzlon (7.32%), Ranbaxy Laboratories (2.87%), Unitech (2.59%), BPCL (2.22%) and GAIL (1.17%).

Among Nifty losers, Siemens (-5.65%), IDFC (-4.06%), Axis Bank (-3.42%), Ambuja Cements (-2.99%) and JP Associates (-2.87%) were the worst hit.

Market breadth on BSE was extremely negative with 2003 declines against 740 advances.