Bombay Stock Exchange’s Sensex closed at 12,629.60, below the 13K level, losing 472.58 points or 3.61 per cent. It slumped to the day’s low of 12,402.84.
National Stock Exchange’s Nifty ended at 3869.65, down 115.6 points or 2.90 per cent from Friday’s close. The 50-share index sank to a low of 3777.30 intraday.
Markets throughout the world were in a bear-hug following the fall of European financial giants like UK’s Bradford & Bingley Plc, Belgium’s Fortis Financial, and Germany’s Hypo Real Estate Holding AG swept in the wake of the US credit crisis.
All are worried on the financial market turmoil sweeping across the world. Bear Stearns, Fannie Mae, Freddie Mac, Lehman Bros, AIG, Washington Mutual, Fortis Financial, Bradford & Bingley… and more are expected to join this list of banks and investment firms seeking bailout.