Sensex loses 875 pts on terrible Tuesday

Sensex loses 875 pts on terrible Tuesday
Sensex closes over 9% from lows
Sensex: Top 10 falls


NSE
4899.30 -309.50
BSE
16729.94 -875.41



As weak global markets let them loose, the bears had another go at stocks on the Indian bourses this morning. So sharp was the decline in values of heavyweight stocks that the benchmark indices Sensex and Nifty crashed by more than 10% in a flash.

The market wide circuit filters hit, trading came to a halt on the exchanges. During the one hour stoppage, the finance minister appealed to the investors to remain calm and stated that the economy was in good shape. On resumption, a few frontline stocks edged off their lower levels and the indices too regained a significant portion of lost ground.

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But the recovery did not last long. With investors choosing to exit counters at every noticeable rise, it turned out to be a roller coaster ride for the Sensex and Nifty this afternoon. As margin calls got triggered, at one stage, the Nifty even crashed by around 14.6%.

Finally, towards the fag end of the session, a few heavyweights bounced back from their lows and the Sensex, which had slumped to a low of 15,332.42 this morning, ended at 16,729.94, around 5% or 875.41 points behind its previous closing mark.

The Nifty, which crashed to a low of 4448.50 in early afternoon trade, settled at 4899.30 with a big loss of 5.94% or 309.50 points.
Bharti Airtel (2.55%) and Tata Motors (0.75%) were the only gainers from the Sensex. Nifty stock Nalco ended with a gain of 2.6%. Maruti Suzuki, which ended with a loss on BSE, closed with a modest gain on the National Stock Exchange.

ONGC, the biggest loser among Sensex stocks, closed 13.6% down at Rs 962.35. ITC, Hindalco, Mahindra & Mahindra, Ambuja Cements, Cipla, HDFC, Reliance Industries and Tata Steel went down by 7% - 10%.
Hindustan Unilever, Ranbaxy Laboratories, Reliance Communications, BHEL, Grasim Industries, HDFC Bank, Satyam Computer Services, Tata Consultancy Services, NTPC and ICICI Bank closed lower by 4% - 7%.

DLF, which plunged to a low of Rs 740 in morning trade, ended with a loss of nearly 4% at Rs 867.70. Reliance Energy and Wipro lost 3.35% and 2.45% respectively. State Bank of India finished with a loss of 1.85%. Maruti Suzuki, Infosys Technologies, Larsen & Toubro and ACC lost 0.5% - 1%. Bajaj Auto ended with a small loss.

Unitech, Reliance Petroleum, Tata Power, Punjab National Bank, Cairn India, Sun Pharmaceuticals, Hero Honda, HCL Technologies, GlaxoSmithKline Pharma, Suzlon Energy, ABB, SAIL, VSNL, Dr. Reddy's Laboratories, BPCL and GAIL India ended sharply lower.
Though a few mid and smallcap stocks bounced back in late afternoon trade, the Midcap and Smallcap indices closed sharply down today. While the Midcap barometer went down by 8.62%, the Smallcap index ended with a loss of 8.09%.

The market breadth remained very weak. Out of 2454 stocks traded on BSE today, as many as 2273 stocks closed with losses. 152 stocks managed to post gains and 29 stocks ended at their previous closing levels.

Record fall
Sensex loses 875 pts Special: Markets mangled Images: Top guns' take on mkt crash
Market mayhem: An analysis
Sensex down 1,917 pts
Realty shares worst hit in market turmoil
Sensex down by 875.41 pts, Nifty dips 300 pts
Sensex closes 875.41 pts down at 16,729.94
Sensex down by 875.41 pts, Nifty dips 300 pts
Bharti, Tata Motors overcome market blues, close up 2.5-1.0%
Shares fall 11 % in worst intraday plunge, trading halted
Biggest one-day losses on Indian share indexes in recent years
FM urges calm amid stock market falls
BoI will provide liquidity to brokers, not to sell in panic


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