Sensex tanks-breaches 9K mark
In one of the most brutal sessions ever on the bourses on Friday, the Sensex took the second-biggest single-day fall in terms of points (1,071) and third-biggest single-day percentage loss (10.9%).
The sensex closed at 8,701.07, a level last seen on November 24, 2005. Every single share in the 30-scrip index ended in negative territory, with DLF (–24%) and Ranbaxy Laboratories (–18%) the worst hit.
World markets had also taken a beating. Tokyo’s Nikkei fell 9.6% to its lowest close in five years, while Seoul’s Kospi plunged 11%. Samsung, the largest chipmaker in Asia, fell 14% after reporting a 44% fall in Q3 earnings. Sony, the world’s second-largest consumer electronics company, fell 12% after sharply cutting its profit forecast on Thursday.