Sensex closes 511 points down
Snapping its five-session winning streak, the benchmark Sensex dropped over 500 points in a volatile trading which saw brisk selling on oil & gas counter.business Updated: Nov 05, 2008 17:19 IST
Snapping its five-session winning streak, the benchmark Sensex on Wednesday dropped over 500 points in a volatile trading which saw brisk selling on oil & gas counter.
The barometer on the Bombay Stock Exchange opened higher by over 300 points, later came under selling pressure and closed the day lower by 511.11 points, or 4.81 per cent, at 10,120.01 points.
Brokers said profit selling at existing levels brought the bellwether index down.
During the day, the 30-share index just fell short of 11K level at 10,945.41 but it also dipped to almost below 10K level at 10,051.52 points, mirroring the high volatility.
The wide-based National Stock Exchange index Nifty also tanked 147.15 points, or 4.68 per cent, at 2,994.95 points.
Reliance Industries, the heaviest among the Sensex club, tumbled by 12.76 per cent to Rs 1,269.45 on reports that the firm has shut five of its polyester units. With RIL losing , the sectoral index suffered the most among all indices today by shedding 637.40 points, or 9.44 per cent at 6112.11 points.