ID :
35300
Sat, 12/13/2008 - 05:44
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http://m.oananews.org//node/35300
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Sensex tanks 363 points, Nifty 108 on weak global cues
Mumbai, Dec 12 (PTI) The benchmark Sensex plunged by over
363 points in early trade Friday on heavy selling by funds in
heavyweight stocks following overnight sharp fall in the US
stock markets on the worries of an auto industry bailout
package, which fell through in the Senate.
The 30-share barometer, which shed 9.44 points in the
yesterday's choppy trade, tumbled by 363.57 points, or
3.77 per cent at 9,281.89 points in the first five minutes of
trading, with all the sectoral indices including auto, metals
and realty index registering losses up to 4.17 per cent.
The wide-based Nifty of the National Stock Exchange
tanked 107.60 points, or 3.68 per cent, to 2,812.55 points.
All 30 shares from the Sensex pack registered losses
during the initial 15 minutes of trading.
Marketmen said Indian stocks fell due to overnight heavy
losses in the US markets, with the Dow Jones index plunging
2.24 per cent after the US Senate failed to reach consensus on
bailing out auto companies.
Further, speculations that domestic industrial output
data for October month was expected to be weak also had a
negative impact on the trading sentiments, they said.
Among Asian bourses, Hong Kong's Hang Seng dipping by
6.90 per cent, while Japan's Nikkei declined by 6.54 per cent
in early trade in line with global markets.
On the domestic bourses, in the auto segment, Maruti
Suzuki stocks fell sharply by Rs 21.80, or 4.27 per cent at Rs
488.40, Tata Motors lost Rs 8.10, or 5.05 per cent at
Rs 152.45, Bajaj Auto fell by Rs 12.85, or 3.61 per cent at Rs
343.15 and Hero Honda moved down by Rs 19.20, or 2.42 per cent
at Rs 773.90, thus dragging the Auto sector index down by 4.17
per cent at 2278.37 points.
The recently favoured realty stocks were again battered
by the investors, and as a result, its index fell by nearly
four per cent in the morning trading.
Other losers were, Reliance Industries, ACC, Reliance
Infra, RCom, Infosys Technologies, Satyam Computers, Tata
Consultancy, Wipro, ICICI Bank, SBI, HDFC Bank, HDFC Ltd,
Larsen and Toubro, BHEL, Bharti Airtel and Tata Steel. PTI
363 points in early trade Friday on heavy selling by funds in
heavyweight stocks following overnight sharp fall in the US
stock markets on the worries of an auto industry bailout
package, which fell through in the Senate.
The 30-share barometer, which shed 9.44 points in the
yesterday's choppy trade, tumbled by 363.57 points, or
3.77 per cent at 9,281.89 points in the first five minutes of
trading, with all the sectoral indices including auto, metals
and realty index registering losses up to 4.17 per cent.
The wide-based Nifty of the National Stock Exchange
tanked 107.60 points, or 3.68 per cent, to 2,812.55 points.
All 30 shares from the Sensex pack registered losses
during the initial 15 minutes of trading.
Marketmen said Indian stocks fell due to overnight heavy
losses in the US markets, with the Dow Jones index plunging
2.24 per cent after the US Senate failed to reach consensus on
bailing out auto companies.
Further, speculations that domestic industrial output
data for October month was expected to be weak also had a
negative impact on the trading sentiments, they said.
Among Asian bourses, Hong Kong's Hang Seng dipping by
6.90 per cent, while Japan's Nikkei declined by 6.54 per cent
in early trade in line with global markets.
On the domestic bourses, in the auto segment, Maruti
Suzuki stocks fell sharply by Rs 21.80, or 4.27 per cent at Rs
488.40, Tata Motors lost Rs 8.10, or 5.05 per cent at
Rs 152.45, Bajaj Auto fell by Rs 12.85, or 3.61 per cent at Rs
343.15 and Hero Honda moved down by Rs 19.20, or 2.42 per cent
at Rs 773.90, thus dragging the Auto sector index down by 4.17
per cent at 2278.37 points.
The recently favoured realty stocks were again battered
by the investors, and as a result, its index fell by nearly
four per cent in the morning trading.
Other losers were, Reliance Industries, ACC, Reliance
Infra, RCom, Infosys Technologies, Satyam Computers, Tata
Consultancy, Wipro, ICICI Bank, SBI, HDFC Bank, HDFC Ltd,
Larsen and Toubro, BHEL, Bharti Airtel and Tata Steel. PTI
