Markets in red; Sensex dips below 14,000 level
The Bombay Stock Exchange Benchmark Sensex dipped below the 14,000-point mark, losing almost 310 points, in opening trade on Wednesday on heavy selling by funds in heavy-weight stocks, triggered by weak global markets.business Updated: Jul 08, 2009 11:42 IST
The Bombay Stock Exchange Benchmark Sensex dipped below the 14,000-point mark, losing almost 310 points, in opening trade on Wednesday on heavy selling by funds in heavy-weight stocks, triggered by weak global markets.
The BSE-30 share benchmark Sensex, which had gained over 127 points on Monday, plunged by 309.93 points, or 2.18 per cent, to 13,860.52 in opening session, the level last seen on May 22.
All the sectoral indices led by realty, were trading in the negative zone.
The wide-based National Stock Exchange index Nifty declined by 94.60 points, or 2.25 per cent, to 4,107.55.
Stock brokers said sentiments were mainly dampened on weak trends on the global markets on concerns that the world economic recovery may not be near as anticipated.
Major losers were Reliance Industries fell by 1.81 per cent to Rs 1,821.75, Rcom by 2.64 per cent to Rs 257.75 and Reliance Infra 2.68 per cent to Rs 1,125.20. Besides, Infosys Technologies by 0.59 per cent to Rs 1,728.90, ICICI Bank by 2.78 per cent at Rs 675.65 and Tata Steel by 4.81 per cent to Rs 378.95.
The Dow Jones Industrial Average ended 1.94 per cent down on Tuesday, while Japan's Nikkei hit six-week lows hurt by unexpected slide in domestic machinery orders and Hong Kong's Hang Seng Index was down 1.18 per cent in the morning trade on Wednesday.