Sensex plunges by 387 points in early trade

Sensex plunges by 387 points in early trade
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First Published: Fri, Sep 05 2008. 10 31 AM IST
Updated: Fri, Sep 05 2008. 10 31 AM IST
PTI
Mumbai: The Bombay Stock Exchange benchmark Sensex lost 387 points in early trade today on heavy selling by foreign funds as well as retail investors, tracking weak global cues.
The 30-share index, which fell by over 150.76 points yesterday, tumbled by 387.43 points or nearly 2.39% at 14,511.67 points on selling by funds in heavy-weight stocks.
Similarly, the National Stock Exchange’s index Nifty dipped by 104.85 points, or 2.25%, at 4,342.90 after stocks of realty, banking, oil and gas and metal sectors suffered sharp losses.
Stock brokers said meltdown on the global stock markets, mainly dampened the trading sentiments here, triggering all-round selling by market participants.
Major losers, which dragged the Sensex down were, Reliance Industries, Reliance Infra, RCom, BHEL, Larsen and Toubro, DLF Ltd, Unitech Ltd, HDFC Ltd, State Bank of India, ICICI Bank, HDFC Bank, Tata Steel, Infosys Technologies, Tata Consultancy, Satyam Computers, Tata Motors and Maruti Suzuki.
Meanwhile, the US Down Jones Industrial Average Index tumbled 2.99% last evening, while Hong Kong’s Hang Seng Index fell by 3.12% in early trade today.
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First Published: Fri, Sep 05 2008. 10 31 AM IST