Sensex plunges 353 pts at close on weak global trend

Sensex plunges 353 pts at close on weak global trend
Comment E-mail Print Share
First Published: Tue, Nov 20 2007. 04 21 PM IST
Updated: Tue, Nov 20 2007. 04 21 PM IST
Agencies
Close
Mumbai: The Bombay Stock Exchange benchmark Sensex plunged nearly 353 points on 20 November, on emergence of selling by funds due to the weak trend in global stock markets.
The 30-share index Sensex, which had recorded a fall of 65 points the previous day, dipped 352.56 points to 19,280.80 as foreign funds turned aggressive sellers and reduced their holdings.
The sell-off was triggered by renewed concern that the losses tied to the US mortgages might pull the world’s biggest economy into recession.
The BSE barometer witnessed the day’s low at 19,196.42 and high at 19,714.22 points as most of the capital goods, metal and oils and gas segment stocks ended in red.
The wide-based National Stock Exchange index, Nifty, fell by 126.75 points at 5,780.90, after touching the day’s low of 5,755.80 and a high of 5,923.70 points.
Capital goods index suffered the most and lost 457 points at 20,349.42 followed by metal index by 358.17 points at 17,310.69. Oil and gas index lost 330.92 points at 12,136.58 and PSU index by 310.85 points at 10,231.34.
Realty index fell by 300.68 points at 10,447.35, bankex by 156.14 points at 10,764.53, power index by 140.25 points at 4513.02, Information Technology index by 106.24 points at 4054.64, auto index by 73.95 points at 5,339.29 and tech index by 54.97 points at 3,615.77.
However, buying activity shifted towards small-cap sector and pushed up its index by 18.27 points at 10,691.16. PTI
Pre-close
Mumbai: Indian shares extended losses to more than 2% late afternoon on Tuesday, 20 November, led by heavyweight Reliance Industries Ltd, as investors dumped stocks across Asia on US credit worries.
At 3:08pm (0938 GMT), the 30-share BSE index, Sensex, was down 2.03%, or 398.61 points at 19,234.75.
The 50-issue NSE index was down 2.42% at 5,764.95. Reuters
Late morning
Mumbai: Sensex recovered part of its early losses after tumbling by 222 points in the initial trade on weak global cues, while the mid-cap and small-cap indices continued to be firm on sustained investment buying support.
The Bombay Stock Exchange barometer later recovered partially and was quoted at 19,550.55, down 82.81 points from yesterday’s close of 19,633.36.
The broader S&P CNX Nifty of the National Stock Exchange was also down by 38.30 points at 5,869.35 from previous close of 5,907.65.
Asian markets were sharply down this morning following a fresh meltdown on Wall Street last night due to concerns of more mortgage losses. PTI
Opening
Mumbai: The Bombay Stock Exchange benchmark Sensex lost nearly 136 points in early trade on 20 November, on sustained selling by funds.
The 30-share Sensex, which had lost 65 points yesterday, fell further by 135.53 points to 19,497.83 in the first five minutes of trade.
The wide-based National Stock Exchange index, Nifty, too fell by 65.19 points to 5842.55.
Marketmen said selling by foreign funds amid reports of steep fall in Asian stock markets mainly pulled down the share prices here.
The Hong Kong share market opened sharply lower today after losses on Wall Street renewed fears about the US economy and trouble in the high-risk mortgage market, they added. PTI
Comment E-mail Print Share
First Published: Tue, Nov 20 2007. 04 21 PM IST