Sensex plunges to 15-month low
The Bombay Stock Exchange benchmark Sensex today fell for the second straight session to a 15- month low of 13,461.60 points, as funds and general investors off-loaded holdings in refinery, bank and realty segments following projections of a fall in economic growth.
The Sensex, which had lost 620 points on Friday, fell further by 340.62 points to a level last seen on April 13, 2007. The index touched a low of 13,405.54 and a high of 13,872.06 points, revealing a wide fluctuation in share prices during the day.
The index has dropped 33 per cent this year, its worst six months since the benchmark was introduced in 1979.
The wide-based National Stock Exchange index Nifty tumbled by 96.10 points at 4040.55, after touching the day’s low of 4021.70 and a high of 4163.00 points.
Selling pressure gathered momentum after reports that the rising crude and inflation data might pull down the economic growth to 7.5 per cent from the previous level of 9 per cent.