Sensex plunges below 14k in early trade
The 30-share index, which remained on a five-day falling streak, falls further by 375.04 points to 13,731.54 points after the RBI raised its key interest rates.business Updated: Jun 25, 2008 10:54 IST
The Bombay Stock Exchange benchmark Sensex on Wednesday lost 375 points to dip below the 14,000 level in early trade on heavy selling by funds in banking and realty stocks after the Central Bank raised its key interest rates on Tuesday. <b1>
The 30-share index, which remained on five day's falling streak, fell further by 375.04 points to 13,731.54 points.
The wide-based National Stock Exchange index's Nifty also plunged by 97.90 points to 4,093.20.
Selling pressure gathered momentum after the Reserve Bank of India raised the key interest rates -- Repo rates, Cash Reserve Ratio -- by 0.50 per cent each last night, marketmen said.
Major stocks which pulled down the Sensex were led by realty banking and auto sectors.