BSE Sensex plunges 301 points on inflation, oil fears
The prime index of the Bombay Stock Exchange (BSE) fell 1.81 percent on Monday as rising inflation and steep oil prices dampened market sentiments.
The 30-share sensitivity index, which touched a high of 16,498.24 and a low of 16,300.88 during intraday trade, closed 301.14 points lower at 16,348.50 with 26 components losing ground.
The benchmark index, which hit a record high of 21,206.77 on Jan. 10, fell 4.5 percent last week and is down more than 19 percent this year.
The top loser was Jaiprakash Associates, which plunged 5.58 percent to Rs.224.40.
Cement makers Ambuja Cements and ACC slipped 5.38 percent and 1.86 percent to Rs.96.65 and Rs.655.05 respectively.
BHEL dropped 5.21 percent to Rs.1656.10.
Reliance Communications shed 5.08 percent to close at Rs.543.20 on news that it has entered into talks with South Africa's MTN Group to acquire its telecom business.
Auto majors Maruti Suzuki and Tata Motors declined 3.83 percent and 2.14 percent to Rs.759.85 and Rs.624.20 respectively.
Financial stocks ICICI Bank, Housing Development Finance Corporation, HDFC Bank and State Bank of India slipped 4.29 percent, 3.92 percent, 2.60 percent and 2.26 percent to Rs.826.70, Rs.2573.30, Rs.1347.45 and Rs.1537.70 respectively.
FMCG majors ITC and Hindustan Unilever closed 3.70 percent and 1.91 percent down at Rs.205.70 and Rs.231.25 respectively.
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- 1 PM bats for 8 percent economic growth, slams divisive politics
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- 4 Inflation falls to 8.90 percent, rate cuts seen
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- 1 PM bats for 8 percent economic growth, slams divisive politics
- 2 Sensex plunges 323 points to lowest close in over 3 years on panic selling
- 3 Inflation falls to 8.90 percent, rate cuts seen
- 4 FinMin's suggestion of price cut to spur demand growth not in sync with India Inc.
- 5 Indian govt. to stimulate economic growth, FinMin urges price cuts
- 6 Sensex slips 163 points on weak global cues, investors wary
- 7 Sensex slips 354 points, closes below 9000-mark as recession fears grip market
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