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Noon: Global financial crisis drags Sensex by 3%

Noon: Global financial crisis drags Sensex by 3%
PTI
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First Published: Tue, Jan 20 2009. 04 34 PM IST
Updated: Tue, Jan 20 2009. 04 34 PM IST
New Delhi: The Indian benchmark indices continue trading in negative with the Bombay Stock Exchange Sensex nearly 3% down as foreign funds started selling triggered by $41 billion loss announced by Royal Bank of Scotland, the largest loss in the UK’s corporate history.
Trading sentiments took further beating as fresh investor worries emerged after Asian markets plunged following RBS revelation and lower than expected Q3 company results.
Negative sentiment was prevalent across the board with heavy selling significantly felt in banking, metal, auto and realty sectors. Metal segment was the largest loser down by 3.48% followed by banking down by 3.18%.
At 12:02pm, the 30-share BSE Sensex was down by 247.39 points at 9082.18 while 50-share NSE Nifty declined by 73.30 points at 2,772.90.
Among the three gainers on the BSE index, Tata Consultancy Services rose by 0.58% to Rs503.60 after it announced a multi-million dollar deal today morning with Italian company Ducati Motor to handle their resource planning.
ITC stocks also surged since the company declared net profit of 8.7% on Monday for the third quarter. Their scrip traded at Rs170.75 a rise by 0.12%.
Tata steel was leading the decline losing by 5.09% at Rs197.60, along with Housing Development Finance Corporation by 4.52% at Rs 1,476.55, Reliance Communication Ltd by 4.41% at Rs176.80, Bharti Airtel by 4.40% at Rs618.50 and ICICI Bank by 3.93% at Rs 396.80.
Negative bourses of Asian markets also dragged Sensex as global banking crisis deepens. Japan’s Nikkei fell by 2.3% and Hang Seng dipped by 3.3%.
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First Published: Tue, Jan 20 2009. 04 34 PM IST
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