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Sensex slips 717 points to end below 18K

Sensex slips 717 points to end below 18K
PTI
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First Published: Thu, Oct 18 2007. 04 24 PM IST
Updated: Thu, Oct 18 2007. 04 24 PM IST
Closing
Mumbai: Sensex crashed by 717 points to close below the 18,000-point mark on panic selling by funds following rumours of uncertainty on the political front.
The Sensex, which had surged to a new peak at 19,198.66 at noon, tumbled on fag-end selling by funds and closed with a loss of 717.43 points at 17,998.39. It also touched the day’s low of 17,771.16 points.
The selling pressure gathered momentum in the last 30- minutes of trading as some rumours about political developments pulled down the market on selling in blue chip stocks led by metal, capital goods and banking segment stocks.
Similarly, the second wide-based National Stock Exchange index Nifty tumbled by 208.30 points at 5351, after touching the day’s low of 5269.65 and a high of 5736.80 points.
Late Afternoon
Mumbai: The stock market today plunged deep into the red, with the benchmark Sensex tanking 790.42 points to trade at 17,925.40 points at 1510 hrs.
Earlier in the day, the market had gained nearly 500 points to touch a new peak of 19,198 points on aggressive buying by funds and surge in the capital goods and consumer durable shares.
Afternoon Trade
Mumbai: Sensex regained the 19K level at noon on the Bombay Stock Exchange today to touch another peak at 19,198 points on aggressive buying by funds and surge in the capital goods and consumer durable shares.
The Sensex, which had tumbled by over 1,700 points in previous day’s selling before regaining over 1,400 points by the end of the day, rose by 482.84 points at 19,198.66 at 1230 hrs as most of the capital goods and consumer durable stocks scaled new heights.
The capital goods index rose by 3.59% at 17,428.72 and consumer durable index up 3.67% at 4,947.77.
With the revival of buying, the second wide-based National Stock Exchange index Nifty also moved up by 154.25 points at 5,713.55 with most of the blue-chip stocks gaining fresh ground.
Opening
Mumbai: Sensex surged by 274 points in early trade on the Bombay Stock Exchange today on sustained buying by funds in heavy weight stocks.
The 30-share index which had closed 336.04 points down in the previous trading session, after recovering over 1,400 points at 18,715.82 from the day’s low, gained 273.73 points at 18,999.55 in the first five minutes of trade this morning.
Similarly, the wide-based National Stock Exchange’s Nifty rose by 72.60 points at 5,631.35.
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First Published: Thu, Oct 18 2007. 04 24 PM IST
More Topics: Shares | Stocks | Markets | Sensex | Nifty |