Market crash pulls 350 stocks to their all-time lows

Market crash pulls 350 stocks to their all-time lows
PTI
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First Published: Fri, Oct 24 2008. 04 50 PM IST
Updated: Fri, Oct 24 2008. 04 50 PM IST
Mumbai: Signalling what could be a dark Diwali on Dalal Street, as many as 350 securities today hit their all-time lows as Sensex crashed by about 1,100 points and dipped below 9,000-mark for the first time in about three years.
Making the things worse, those hitting their record low share prices included big names like Reliance Power, Cipla, Ranbaxy, Ambuja Cement, Hindalco, Indian Hotels, Jaiprakash Associates, Jet Airways, Suzlon Energy and Idea Cellular.
Realty majors DLF Ltd, Unitech, Parsvnath, Sobha Developers, Omaxe and Puravankara also plunged to their all- time lows.
There were also new listings such as REC, Gammon Infra, Titagarh Wagon, V-Guard, Anu’s Lab, KSK Energy, 20 Microns, Birla Cotsyn, OnMobile, IRB Infra, Aishwarya Telecom, Kiri Dyes and 20 Microns in this category.
Other big names plunging to their record lows included Central Bank, Power Grid, PFC, Edelweiss Capital, Future Capital, Biocon and Patni Computer, GMR Infra, Tech Mahindra, Mahindra Forging and Lanco Infra.
The Sensex today settled 1,070.63 points down at 8,771.70 points - registering its biggest single-day fall. There were as many as 2,322 stocks ending in the red, accounting for close to 90 per cent of all the actively traded stocks.
Besides, as many as 640 stocks hit their lower circuit filters - signalling there were no buyers for these stocks.
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First Published: Fri, Oct 24 2008. 04 50 PM IST
More Topics: Indian Markets | Crash | Record | Sensex | Reliance |