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Sensex takes a deep plunge

Sensex takes a deep plunge Sensex, the Bombay Stock Exchange (BSE) 30-share sensitive index, plunged to its nearly 14-month low to 13802.22 by losing 619.60 points or 4.30 per cent on heavy selling pressure, due to record global oil prices and rising inflation.

In intra-day, the Sensex recorded a low of 13760.24 and a high of 14127.76. On the National Stock Exchange (NSE) the 50-share Nifty lost 179.20 points at 4136.65, after touching the day’s low of 4119.20 and a high of 4315.30 points. The fall was led by banking stocks (5.34 per cent), automobiles (5.26 per cent), power (4.87 per cent), metal (4.53 per cent), realty (4.45 per cent), PSU (4.29 per cent) and IT ((4.24 per cent).

Weakness across the global markets and rising global crude oil prices affected sentiment on the domestic bourses. Nervousness in the market is likely to continue following a fall in the overnight U.S. market, escalating global crude oil prices and weak Asian indices.

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