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Noon: Sensex still 300 pts down, Banks plunge by 6%

Noon: Sensex still 300 pts down, Banks plunge by 6%
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First Published: Thu, Jan 15 2009. 02 34 PM IST
Updated: Thu, Jan 15 2009. 02 34 PM IST
New Delhi: Extending further losses the Bombay Stock Exchange benchmark Sensex continues struggling below 9,000 mark on Thursday, 15 January, on weak global markets and deepening worries of banking crises in the United States.
Bearish sentiment reflects in all indices with all of them in red zone. Banking and IT sectors are leading the decline by a fall of 6% and 5% respectively. Realty, Tech and metals segments are also under pressure.
Markets opened below 9,000 after overnight fall of 2.49% in Dow Jones and since foreign funds sell-off has continued. At 12pm, the 30-share BSE index was down by 396.59 points at 8,973.90 whereas NSE Nifty was lower by 114.35 points at 2,720.95 at the same time.
According to marketmen, filing for bankruptcy by Canada-based telephone equipment maker, Nortel Networks Corp’s in the US and Canada also brought in certain negativity among investors.
ICICI Bank is suffering the sharpest decline of 8.71% to Rs405.05, along with other losers Jaiprakash Associates by 7.68% to Rs64.95, Tata Steel by 7.19 to Rs198.10, Tata Motors by 6.38% to Rs146.70, Wipro by 6.31% to Rs228.55, Sterlite Industries by 6.26% to Rs256.00 and HDFC Bank by 6.17% to Rs917.00.
Meanwhile, Asian markets are trading lowest in weeks due to deepening banking crisis. Hong Kong’s Hang Seng is at its 7-week low by 5.3% and Japan’s Nikkei is down by 4.9%, it’s lowest since 5 December.
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First Published: Thu, Jan 15 2009. 02 34 PM IST
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