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Sensex slips 870 points as budget disappoints
By siliconindia
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Monday, 06 July 2009, 23:49 IST |
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Mumbai: In its worst performance in recent weeks, a key index of the Indian equities markets ended trade Monday nearly 870 points down from its last closing figure, as investors blamed lack of policy announcements and increase in minimum alternate tax on corporates for the negative reaction. The one year Sensex chart is on the left.
The benchmark index of the Bombay Stock Exchange (BSE), the Sensex, which opened at 14,962.12 points, closed at 14,043.4 points - 869.65 points or 5.83 percent lower than Friday's close.
At one point, it had slipped by more than 900 points.
Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) ended the day 5.84 percent down to 4,165.70 points.
Broader market indices also closed in the red, with the BSE midcap index ending 5.17 percent down, and the BSE smallcap index closing 4.5 percent lower than its previous close.