Thursday, January 15, 2009
Sensex tanks below 9K in opening trade
"The bourses cut short its overnight brief rally as the benchmark Sensex plunged by a huge 353 points in early trade today (January 15) as extremely weak global cues weighed on the market sentiment.
The Bombay Stock Exchange 30-share barometer was quoted lower at 9,017.59 at 1015 hrs, a net fall of 352.90 points or 3.77 per cent from its previous close.
The Sensex hit a low of 8,951.50, down 418.99 points from its last close, but later recovered smartly on some buying support at lower levels. The broader 50-share Nifty of the National Stock Exchange also tumbled by 111.35 points or 3.93 per cent to 2,723.95 at 1015 hrs from its last close.
The Bombay Stock Exchange benchmark Sensex today (January 15) lost almost 419 points and dipped below crucial 9,000 points level in opening trade on major sell-off by foreign funds and retail investors, largely taking cues from weak global markets.
Brokers said sentiments turned distinctly weak after Asian shares plunged to five-week low in line with overnight sharp fall on the US stock markets. Meanwhile, Canada-based telephone equipment maker, Nortel Networks Corp’s subsidiaries in the US and Canada filed for bankruptcy protection.
Major losers among technology stocks were IT bellwether Infosys Technologies that fell by Rs 68.85, or 5.28 per cent at Rs 1,236, Wipro lost Rs"
The Bombay Stock Exchange 30-share barometer was quoted lower at 9,017.59 at 1015 hrs, a net fall of 352.90 points or 3.77 per cent from its previous close.
The Sensex hit a low of 8,951.50, down 418.99 points from its last close, but later recovered smartly on some buying support at lower levels. The broader 50-share Nifty of the National Stock Exchange also tumbled by 111.35 points or 3.93 per cent to 2,723.95 at 1015 hrs from its last close.
The Bombay Stock Exchange benchmark Sensex today (January 15) lost almost 419 points and dipped below crucial 9,000 points level in opening trade on major sell-off by foreign funds and retail investors, largely taking cues from weak global markets.
Brokers said sentiments turned distinctly weak after Asian shares plunged to five-week low in line with overnight sharp fall on the US stock markets. Meanwhile, Canada-based telephone equipment maker, Nortel Networks Corp’s subsidiaries in the US and Canada filed for bankruptcy protection.
Major losers among technology stocks were IT bellwether Infosys Technologies that fell by Rs 68.85, or 5.28 per cent at Rs 1,236, Wipro lost Rs"
