Market under blood-bath, touches fresh lows

Commentary

oi-Monika

By Monika Nihalani

Published: Wednesday, November 23, 2011, 13:29 [IST]

Indian indices have touched a fresh lows on Wednesday as investors dumped equities due to rising uncertainties over the Europe and US. Depreciating rupee against dollar is another daunting reason forcing investors to withdraw funds from domestic equities.

At 1:20 pm, the benchmark Sensex was seen down by 427 points or 2.66% at 15,637.93, while Nifty draped in red by 118 points or 2.46% at 4,694.15.

The recent level was last seen in November 2009.

On the Bombay Stock Exchange, all sectors entered under the red zone, the sectors which registered a steep fall were Teck (2.99%), Oil & Gas (2.98%), Bankex (2.90%), Metal (2.65%) and Power (2.56%).

And, on the National Stock Exchange, the only company found trading over the positive side was Rcom, up by 0.93%.

The top losers on the NSE were IDFC (5.43%), Bharti Airtel (5.27%), HDFC Bank (4.92%), Sesa Goa (4.77%) and JP Associates (4.34%).

Globally, the situation looked grim, with all the major indices of Asia seen drowning into losses.

China's Shanghai was seen down by 0.73%, Japan's Nikkei 225 fell by 0.40%, Hong Kong's Hang Seng dipped 1.85%.

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