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Indian shares tumble again as foreign funds sell heavily
Tuesday, 12 December 2006, 18:30 IST
Mumbai: The mayhem in the Indian share market continued on Tuesday as it lost more than three percent or over 400 points in a broad-based sell-off by investors, worried about the tightening monetary policy.
The benchmark 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) crashed nearly 600 points to below the 13,000-point mark in pre-close trading as foreign investors off-loaded their holding on concerns over a slowdown in industrial growth.
The Sensex tanked 404.41 points or 3.02 percent Tuesday at 12,995.02 points at close of trade from its previous close Monday at 13,399.43 points, with Grasim Industries, ACC Ltd and Reliance Communication Ltd leading the plunge.
The 50-issue National Stock Exchange index Nifty was down 132.60 points at 3716.90.
The Sensex plunged to a low of 12,801.65 points in the intra-day trading Tuesday. A week ago, the index traded above 14,000 points for the first time. It hit a record high of 14,035.30 on Dec 6.
Leading top losers were Grasim Industries, down 7.33 percent at 
2,506.30, followed by ACC Ltd, down 6.16 percent at 972.35 and Reliance Communication Ltd, down 6.11 percent at 403.45.
Sensex heavyweights Reliance Industries last traded at 1,208.05 down 2.44 percent from its previous closing at 1,236.80, Tata Steel last traded at 440.40, down 2.8 percent from its previous closing at 453.40.
Cigarette major ITC Ltd last traded at 173.65, down 3.55 percent from its previous closing at 180.05.
Source: IANS
2,506.30, followed by ACC Ltd, down 6.16 percent at 972.35 and Reliance Communication Ltd, down 6.11 percent at 403.45.
Sensex heavyweights Reliance Industries last traded at 1,208.05 down 2.44 percent from its previous closing at 1,236.80, Tata Steel last traded at 440.40, down 2.8 percent from its previous closing at 453.40.
Cigarette major ITC Ltd last traded at 173.65, down 3.55 percent from its previous closing at 180.05.
Source: IANS