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Journalism of Courage
Global economic apprehensions of a slowdown in manufacturing growth in the coming months on debt crisis in Europe pulled down the BSE benchmark Sensex by 114 points during the week.
Metal shares slid sharply on heavy selling. The BSE-Metal index fell 500.58 points or 3.36 per cent,after the Conference Board,a US-based research group,corrected its April 2010 gauge to assess the outlook of China’s economy.
IT shares dropped on profit-taking in view of dismal US economic data,while banking stocks moved down on rate hike worries (RBI raised key rates after market closed on Friday).
However,capital goods,small-cap,mid-cap and oil & gas sectors firmed up on good support as exports rose for the seventh straight month in May 2010,growing at a rate of 35 per cent per annum to USD 16.1 billion.
