Sensex ends170 points lower at 18,737

Sensex ends170 points lower at 18,737

Mumbai: The benchmark Sensex fell by over 170 points on 12 November 2007 due to frantic selling by funds in heavy-weight stocks, triggered by weakening global trend.

The 30-share index, which has been in a bearish mode in the last few trading sessions, shed another 170.33 points to 18,737.27 after touching the day’s low of 18,333.21 points in the morning trade. I

The National Stock Exchange’s Nifty fell by 46.15 points to 5,617.10. It touched the day’s low of 5,477.50 and a high of 5,660.60 points.

Major losers were stocks from realty, oil and gas, and information technology segments.

Morning trade

The Sensex lost more than 3% in the early morning trade on 12 November, led by index heavyweight Reliance Industries Ltd and ICICI Bank Ltd, as investors dumped stocks across Asia on US credit worries.

The 30-share index, which had lost 151 points during the special Diwali mahurat trading on 9 November, was down 560.67 points at 18,346.96, or 2.97%, at 10:20am, with all but four shares of the index in the red.

The major losers, apart from RIL and ICICI Bank, were Bhel, Infosys Technologies, Hindalco and the State Bank of India.

Selling pressure gathered momentum following report of a steep fall in other Asian stock markets, including the Japanese Nikkei, which fell below the 15,000 mark for the first time in 16 months.

The 50-share Nifty of the National Stock Exchange was down 3.14%at 5,485.40.