Sensex plunges over 390 pts at midsession on profit booking
The BSE benchmark Sensex tumbledover 390 points at midsession today on heavy profit booking by funds in line with weakening rupee against the dollar.business Updated: Sep 03, 2013 14:18 IST
The BSE benchmark Sensex tumbledover 390 points at midsession today on heavy profit booking by funds in line with weakening rupee against the dollar.
After regaining 19,000-level at the outset, the Sensex plunged by 390.10 points, or 2.2% to 18,496.03 with all the sectoral indices losing up to 2.67%.
Similarly, the broad-based National Stock Exchange index Nifty dropped by 129.20 points, or 2.3% to 5,421.55 driven by stocks of HDFC, ITC and RIL.
Brokers said investors confidence remained jittery as the rupee again dipped below 67 per dollar, raising fears of widening fiscal deficit.
They said funds were also active and booked profits following four sessions of gain in front-runner stocks.
The most heaviest on the benchmark with their nearly 20% weightage - Reliance Industries plunged 3.93% to Rs 849 and ITC by 2.79% to Rs 310.50. HDFC, also a index kitty stock, dropped by 4.21% to Rs 704.75.