Sensex plunges by 400 points

Tuesday, 21 August 2007, 07:00 Hrs
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Mumbai: The recovery for Indian equities was short-lived as they once again plunged during intra-day trading Tuesday, leading to a fall of over 400 points, or 2.82 percent, in a key index.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange was ruling at 14,021.30 points an hour before close of trading, with a loss of 406.25 points, or 2.82 percent, over the previous day's close at 14,427.55 points.

The index, however, had opened on a positive note at 14,512.19 points, and moved up to a high of 14,534.51 points, before it slid to a low of 13,993.03 points at around 2:30 p.m.

All the 30 shares that go into the basket of Sensex shares were trading in the red and every sub-index, representing counters including automobiles, consumer goods, banking, metals, oil and gas and IT were in the negative territory.

"The global gloom has been definitely a factor for today's fall. But investors are also reluctant to hold on to their stocks and want to book profits at the earliest possible opportunity," an analyst with a leading brokerage here said.

Key losers included ICICI Bank, Wipro and Reliance Communication, State Bank of India, Reliance Energy, Tata Consultancy Services, Ranbaxy, Tata Steel, Infosys Technologies and Mahindra and Mahindra.
Source: IANS
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