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Sensex tumbles 570 points

Sensex tumbles 570 points
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First Published: Thu, Jul 03 2008. 03 44 PM IST
Updated: Thu, Jul 03 2008. 03 44 PM IST
Livemint.com
Soaring crude oil prices that surged past $146 a barrel mark and fears of an economic slowdown dampened trading sentiment in India with the benchmark index skidding 570 points to 13,094 levels.
The Sensex dipped to a low of 12,934 levels in intraday deals. In broader markets, the Nifty ended down 168 points to 3,926 levels.
In other markets, South Korean shares closed 1.1% lower, while Hang Seng Index shed 461 points to 21,242 levels.
Back home, the market breadth was extremely weak with just two scrips out of the BSE-30 counters ending the day in positive turf. Tata Steel was the worst hit that slipped 11.5% or Rs85. DLF Limited, Reliance Infra, Reliance Industries, Maruti Suzuki and ITC limited were among the other top losers.
Among sectoral indices, the BSE realty index was the worst hit with Sobha Developers ending down over 10%. DLF Limited, HDIL, Omaxe Limited and Unitech Limited slipped over 9%.
Profit booking was also visible in metal counters. Tata Steel, SAIL, Ispat Industries, Jindal Steel, Jindal Saw, Hindalco, Gujarat NRE Coke, Maharashtra Seamless, Sesa Goa and Sterlite Industries lost considerable ground.
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First Published: Thu, Jul 03 2008. 03 44 PM IST
More Topics: Markets | Stocks | Sensex | NIfty | BSE |