Sensex dips below 9,000 level in early trade
The Bombay Stock Exchange benchmark Sensex fell by over 195 points to 8,847.58 in the opening trade today, on heavy selling by funds, taking cues from melting global markets.business Updated: Feb 20, 2009 12:59 IST
The Bombay Stock Exchange benchmark Sensex fell by over 195 points in the opening trade on Friday, on heavy selling by funds, taking cues from melting global markets.
The 30-share index, which had gained 27 points in previous trading session, fell by 195.05 points to 8,847.58 in early trade with stocks of the realty, banking and IT sectors suffering major losses.
The 50-share National Stock Exchange Nifty also lost 65.05 points to 2,724.30.
Stock brokers said the market opened lower trailing a global rout after reports that the 13-month-old US recession was deepening.
They said selling pressure were more confined to banking and realty sectors.
Major losers, which dragged the Sensex down, are DLF Ltd that fell by 4.92 per cent to Rs 148.65, SBI by 1.98 per cent to Rs 1,038.60, ICICI Bank by 4.14 per cent to Rs 346.55, HDFC Bank by 3.15 per cent to Rs 856.95, Reliance Industries by 2.56 per cent to Rs 1,265.00, Sterlite Industries by 2.20 per cent to Rs 250.85, BHEL by 1.24 per cent to Rs 1,365.10 and Grasim Industries by 1.74 per cent to Rs 1,349.80.