Sensex falls below 15k-mark; ends down 328 pts at 16,141.67
Mayhem across the globe and sustained pull-out by foreign funds fuelled a downward spiral as the benchmark Sensex dipped just below 16,000-mark after 15 months but later recover to end at 16,141.67, still down by 328 points.
External events like lingering European debt problems that emerged concerns over the European banks and overnight murky US economic data which indicated that the world is going into another recession, mainly distressed the market sentiment globally.
However, at home, higher inflation and rising interest rates, which might restrict the corporate profit growth, also continued weigh on the market.
Barring realty, all other 12 sectoral indices ended down between 4.41 per cent and 0.39 per cent. IT index suffered a heavy blow after heavy downslide in their ADRs after Wall Street yesterday recorded its biggest drop since US downgrade.
Capital goods, tech, banking and consumer durable stocks too attracted heavy profit-booking.
At the Bombay Stock Exchange 30-share bellwether index resumed with a downside gap of 230 points and remained in negative terrain throughout the day to settle at 16,141.67, a net fall of 328.12 points or 1.99 per cent over its 371 points or 2.20 per cent loss yesterday. It logged a low of 15,987.77, level not seen since May 25, 2010 when it touched 15,960.15.
Similarly, the NSE 50-issue Nifty also slumped by 98.50 points or 1.99 per cent to 4,845.65. It registered a low of 4,796.10 during intra-day trade.
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