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Sensex plunges 274 points at closing

Fears of high inflation resurface in the stock markets as 30-share BSE barometer, after a better start, falls sharply to touch 15,422.31.
By HT Correspondent | PTI, Mumbai
UPDATED ON JUN 18, 2008 05:37 PM IST

Fears of high inflation resurfaced in the stock markets on Wednesday, pulling down the benchmark Sensex by over 270 points at 15,422.31 points.

The 30-share BSE barometer, after a better start, fell sharply by 274 points at 15,422.31, the key index touched the day's low of 15,390.22 and a high of 15,789.62 points.

Similarly, the wide-based National Stock Exchange index Nifty fell by 70.08 points at 4,582.40. It dipped to 4,569.90 and rose to 4,679.75 points during the day.

Marketmen said trading sentiment tuned weak as investors fear inflation might touch double digit figure in the current week.

Banking, metal, capital goods, realty, oil and gas and IT stocks fell took a beating as investors preferred to sell.

Metal sector index suffered the most by 265.38 points at 15,251.48, followed by banking sector index by 260.73 points at 7306.44.

Capital goods index fell by 243.94 points at 12,119.33, oil and gas index by 175.44 points at 10,066.35, realty index by 213.41 points at 5885.78, IT index by 106.26 points at 4333.94 and Teck index by 65.82 points at 3376.01.

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