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Sensex sinks 338 points on global cues

Sensex sinks 338 points on global cues
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First Published: Thu, Sep 11 2008. 03 56 PM IST
Updated: Thu, Sep 11 2008. 03 56 PM IST
Livemint.com
New Delhi: Tracking global markets, the Indian bourses ended weak with the BSE benchmark index ending down 2.3% or 338 points at 14,324 levels.
The Sensex had slipped to a low of 14,265 levels in intra-day deals. Similarly, the wider-based Nifty lost 110 points to close at 4,290 levels.
Analysts said that the sentiment turned negative following a subdued trend in global markets after concerns on Lehman Brothers’ ability to raise capital fuelled concerns about the health of the financial sector.
In other Asian markets, the Nikkei average dipped 2% to a nearly six-month closing low at 12,102.50. The broader Topix declined 2.5% to 1,162.72 levels. Singapore’s Straits Timex Index shed 3.1% or 81.26 points to 2,541 levels.
Back home, Reliance Industries tanked 4.1% or Rs86 to end at Rs1,997. Bharti Airtel, Reliance Infra, Tata Power, ONGC, Infosys Technologies, ICICI Bank and DLF Limited also lost considerable ground.
Most power sector counters ended weak with Suzlon Energy skidding 6.6%. Torrent Power, Tata Power, Crompton Greaves, Neyveli Lignite, Power Grid and Bhel were some of the other key losers.
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First Published: Thu, Sep 11 2008. 03 56 PM IST
More Topics: Markets | Stocks | Sensex | Nifty | BSE |