BSE Sensex sheds 620 points to slip below 14K level on oil, inflation concerns
Surging inflation, record high crude oil prices and political uncertainty dragged down the prime index of the Bombay Stock Exchange (BSE) by 4.30 percent to its lowest close in 13 months on Friday.
The 30-share sensitivity index shed 619.60 points to close below 14,000 level at 13,802.22, with all the components ending lower, after touching an intraday high of 14,127.76 and a low of 13,760.24.
The benchmark index, which hit a record high of 21,206.77 on Jan. 10, has lost 5.3 percent during the week and is down about 33.5 percent this year.
The day's worst performer was Tata Motors, which plunged 8.24 percent to Rs.489.45.
Auto rival Mahindra & Mahindra and market leader Maruti Suzuki plummeted 7.61 percent and 4.71 percent to Rs.552.65 and Rs.676.90 respectively.
Financial stocks Housing Development Finance Corporation (HDFC), ICICI Bank and State Bank of India (SBI) fell 8.15 percent, 6.40 percent and 4.76 percent to Rs.2234.85, Rs.697.75 and Rs.1216.25 respectively.
Tech stocks also fared badly with Wipro, Satyam Computer Services and Infosys Technologies declining 7.78 percent, 4.35 percent and 4.17 percent to Rs.479.95, Rs.459.80 and Rs.1781.85 respectively.
Cement majors Ambuja Cements and Grasim Industries slipped 7.14 percent and 4.56 percent to Rs.87.50 and Rs.2037.50 respectively.
Realty majors Jaiprakash Associates and DLF Ltd ended down 7.01 percent and 5.70 percent at Rs.153.40 and Rs.449.85 respectively.
Other major losers were Reliance Infrastructure (down 7.72 percent to Rs.960.70), ONGC (down 4.62 percent to Rs.870.35), Reliance Communications (down 4.48 percent to Rs.495.75), Hindalco (down 4.16 percent to Rs.145.40), Tata Steel (down 4.01 percent to Rs.757.10), BHEL (down 3.95 percent to Rs.1437.25) and Larsen & Toubro (down 3.89 percent to Rs.2358.85).
- 1 "iPhone killer" Nokia 5800 XpressMusic launched in India
- 2 Human remains found near Fossetts plane wreckage, sent for DNA match
- 3 Jolies first outing after childbirth: at the premiere of "Changeling
- 4 O.J. Simpson convicted of kidnapping and armed robbery, faces life in prison
- 5 Hindustan Motors launches Mitsubishi Outlander in India, looks to lift up flagging sales
- 6 Mamata Banerjee "has pulled the trigger," says Ratan Tata, announces pullout of Nano project from Singur
- 7 No hamsters or "exotic pets" for kids: more dangerous than cat and dog
- 1 Citigroup, Wells Fargo call temporary truce, to negotiate a settlement of Wachovia's future
- 2 Orissa police nab Maoist suspects in connection with Hindu seer's murder, Christians continue to live in fear
- 3 Post Singur exit, states vie to welcome Tata Motors, announce incentives
- 4 India joins global effort to prevent recession; SEBI eases P-note curbs, RBI cuts CRR after Sensex sinks 725 points
- 5 Sensex plunges 5.78 percent to 2-year low, global financial outlook bleak
- 6 Indians head UK's super-rich losers list: Report
- 7 "iPhone killer" Nokia 5800 XpressMusic launched in India
- 1 India joins global effort to prevent recession; SEBI eases P-note curbs, RBI cuts CRR after Sensex sinks 725 points
- 2 Sensex plunges 5.78 percent to 2-year low, global financial outlook bleak
- 3 Sensex slips over 4 percent on financial jitters to close at 18-month low
- 4 Sensex surges 1.52 percent on US bailout hope
- 5 Sensex surges 265 points on SEBI, FinMin remarks; ICICI Bank leads rally
- 6 Black Monday: House says "No" to Bush's $700 billion bailout plan; Wachovia falls, Wall Street quakes
- 7 Sensex plunges 506 points on credit worries
|
|
