Sensex crashes by 10%; trading halted for 1 hour
The benchmark Sensex falls to the low of 15,576.30 within minutes of opening, crossing the circuit limit of 10 pc.business Updated: Jan 22, 2008 17:13 IST
Trading was suspended for one hour at the Bombay Stock Exchange after the benchmark Sensex fell to the low of 15,576.30 within minutes of opening, crossing the circuit limit of 10 per cent.
On Monday, the 30-share barometer tumbled by 1,408 points on concerns regarding the US economy going into recession.
The market opened at 16,884.09 points. At the time suspension, the Sensex was quoted at 15,576.30 points, plunging 11.53 per cent from Monday's close.
Similar trend was witnessed at the National Stock Exchange, whose barometer Nifty opened at 5,203.35, and later spiralled downward to a low of 4,569.50, a slide of 12.1 per cent. It was last trading at 4,578.35 points.