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Sensex tumbles by 1,000 pts, RBI disappoints investors

Sensex tumbles by 1,000 pts, RBI disappoints investors
PTI
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First Published: Fri, Oct 24 2008. 02 58 PM IST
Updated: Fri, Oct 24 2008. 02 58 PM IST
Mumbai: The BSE Sensex tumbled by over 1,052 points in pre-close trading on Friday as investors indulged in all-round selling after RBI disappointed them by keeping key rates untouched in its policy review.
The 30-share index, which lost nearly 912 points in the last two sessions, crashed by 1,052.18 points to 8,719.52 points, a level last seen in June, 2006.
The National Stock Exchange index Nifty fell by 343.05 points, or 11.25% at 2,600.20.
Market analysts said absence of any market friendly measure in the RBI’s annual monetary policy, accelerated selling pressure, particularly in the banking sector stocks.
Stock market barometer Sensex slipped below the 9,000 points to over two-year lows around noon.
The 30-share index, which lost nearly 912 points in the last two sessions, plunged by 786.42 points to 8,985.28 points as all the sectoral indices, led by banking, were in the negative zone.
The National Stock Exchange index Nifty tumbled by 243.35 points to sink under 2,700 points - 2,699.80.
Market analysts said absence of any market friendly measure in the RBI’s annual monentary policy, accelerated selling pressure, particularly in the banking sector stocks.
The market opening trade had tumbled 277 points earlier.
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First Published: Fri, Oct 24 2008. 02 58 PM IST
More Topics: Indian Markets | Sensex | BSE | NSE | Stocks |