Sensex Plunges, Recovers And Then Falls
Mumbai, Aug 9: The BSE benchmark Sensex today fell for the sixth day and closed 132.27 points down to below the 17,000 mark in volatile trade as investors sold blue-chips, especially IT stocks, amid a rout in global equities.
A sharp jump in Chinese inflation to more than three years high further spooked the equities market.
The Bombay Stock Exchange key index fluctuated over 703 points intraday before closing at 16,857.91, a level last witnessed in June last year.
The 30-share index, which had lost 1,322 points in last five sessions, had regained 17,000 points level at midway on covering of short positions, but global equities selloff on fears that political leaders were failing to tackle the US and Europe debt crises pulled down the market.
Software services exporters led by industry bellwether Infosys and largest Indian IT company TCS fell the most, contributing the most to the Sensex fall. Infosys dropped by Rs 90.90 to Rs 2,377.10 and Tata Consultancy by Rs 42 to Rs 967.25 a piece.
Industry leader RIL also fell by nearly two per cent.
Broad-based National Stock Exchange index Nifty ended 45.65 points lower at 5,072.85 after touching the day's high of 5,167.
Market sentiment remained bearish as Asian stock markets tumbled nearly six per cent and European stocks opened lower as.
Investors were jittery as the US markets tumbled by 6 per cent last night, the lowest since October 2008. PTI