MUMBAI: The benchmark Sensex plunged 423 points to hit a one-month low on Thursday as funds resorted to heavy selling in blue-chip stocks led by capital goods, power and PSUs, weighed down by fears of China further tightening its monetary policy.
The Bombay Stock Exchange 30-share barometer, which had lost 166 points in the last two trading sessions alone, plunged further by 423.35 points to 17,051.14, marking its biggest fall this year.
Followed poor Wall Street and Asian cues, the Sensex opened with 123 points down and touched the day's low of 17,025.26 during the day. This is the third consecutive fall for the market this week.
The wide-based NSE Nifty 50 too broke two key levels of 5,200 and 5,100 points and closed with a hefty loss of 127.55 points to 5,094.15. It dipped to 5,085.45 in the session.
With a 5.15% fall to 13,501.46 points, the sector that suffered the most was capital goods, spooked by the poor Q3 results by L&T. The engineering and construction giant tumbled 6.85% following the results.
The second biggest fall was in the power index, which was hammered by 3.47% 3,100.60 points. Tata power was the worst performer with a 4.46% fall. All the Sensex indices ended with heavy to moderate losses. The PSU index shed 2.98%, realty 2.78% and pharma 2.65%.
The World Bank statement that the Asian economies face the risk of asset bubbles or overheating as the region's growth outpaces the rest of the world this year, also weighed on the market.
Toi
The Bombay Stock Exchange 30-share barometer, which had lost 166 points in the last two trading sessions alone, plunged further by 423.35 points to 17,051.14, marking its biggest fall this year.
Followed poor Wall Street and Asian cues, the Sensex opened with 123 points down and touched the day's low of 17,025.26 during the day. This is the third consecutive fall for the market this week.
The wide-based NSE Nifty 50 too broke two key levels of 5,200 and 5,100 points and closed with a hefty loss of 127.55 points to 5,094.15. It dipped to 5,085.45 in the session.
With a 5.15% fall to 13,501.46 points, the sector that suffered the most was capital goods, spooked by the poor Q3 results by L&T. The engineering and construction giant tumbled 6.85% following the results.
The second biggest fall was in the power index, which was hammered by 3.47% 3,100.60 points. Tata power was the worst performer with a 4.46% fall. All the Sensex indices ended with heavy to moderate losses. The PSU index shed 2.98%, realty 2.78% and pharma 2.65%.
The World Bank statement that the Asian economies face the risk of asset bubbles or overheating as the region's growth outpaces the rest of the world this year, also weighed on the market.
Toi
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