Markets plunge, Sensex tanks 620 pts
Sensex nosedived to its nearly 14-month low by losing over 600 points on aggressive selling, sparked by rising inflation, weak global cues and record crude prices.business Updated: Jun 27, 2008 18:01 IST
The Bombay Stock Exchange benchmark Sensex on Friday nosedived to its nearly 14-month low by losing over 600 points on aggressive selling, sparked by rising inflation, weak global cues and record crude prices.
The 30-share BSE barometer tanked 619.60 points to close at 13,802.22, a level last seen on May 10 last year.
The key index dipped to day's low of 13,760.24 points and a rose to a high of 14,127.76 points.
The 50-share Nifty on National Stock Exchange also dropped 179.20 points at 4,136.65, after touching the day's low of 4,119.20 and a high of 4,315.30 points.
Country's biggest private sector lender ICICI Bank fell to its lowest in 21 months, while housing finance major HDFC lost a whopping dropped 8.15 per cent.
Other index-related heavyweights Reliance Infra lost 7.72 per cent, Infosys 4.17 per cent, Reliance Industries 2.56 per cent and Wipro 7.78 per cent.