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Sensex down over 300 points

business Updated: Jan 30, 2008 18:13 IST

PTI
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The Bombay Stock Exchange benchmark Sensex on Wednesday plunged over 333 points as funds, concerned over the RBI decision to keep key rates unchanged, resorted to selling amid weakening global markets.

The 30-share Sensex, which had lost nearly 60 points in Tuesday's trading, on Wednesday lost further 333.30 points before settling at 17,758.64.

The index touched a high of 18,129.18 and a low of 17,683.51 points.

The National Stock Exchange index Nifty also fell by 113.20 points at 5167.60. It touched the day's low of 5,142.25 and a high of 5,314.30 points.

Marketmen said the selling pressure gathered momentum as the Reserve Bank of India on Tuesday decided to maintain status quo in key rates after its quarterly monetary policy review.

They said the market players, particularly the foreign institutional investors, were awaiting the outcome of the US Federal Reserve meet on interest rates and refrained from enlarging their positions even at such low levels.

The major pulled to the market were shares from banking, capital goods, refinery and realty segments.

Oil and gas sector index plunged the most by 497.21 points at 10,684.56 followed by capital goods index by 336.15 points at 16,625.91. Realty index fell by 252.88 points at 10,148.19 and bankex index by 220.56 points at 10,899.86.