Sensex falls below 13,000 on global slowdown fears
2008
Tracking weak global cues, the stock markets continued their slide on Monday with the benchmark Sensex plunging 230 points at 1115 hrs and dipped below the 13k level for the first time since July 17, 2008.
The 30-share index was quoted at 12,872.34, a loss of 299.84 points from its previous close.
The broader 50-share Nifty of the National Stock Exchange also fell by 66.65 points or 1.66 per cent to 3,918.60 at 1115 hrs from its last close.
Brokers said after resuming steady, the markets moved downwards following Asian markets, which were trading lower in the early trade.
They said investors were extremely cautious due to the negative global developments with the credit crisis deepening across the financial institutions in the world’s largest economy amid a delay in the rescue package.
Realty stocks continued to bear the brunt of investors’ wrath as the US sub-prime issue threatened the world economies affecting the flow of funds required for the real estate sector, they added.
The BSE Realty Index was the biggest loser in the initial 15 minutes of trading, registering a fall of 140.49 points or 3.91 per cent.
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