Monday, March 17, 2008

Markets tumble: Sensex breaches 15,000 mark

The markets are trading deep in red on heavy selling seen in scrips across sectors. Nifty went to 4550, it is down 200 points. Sensex is down over 700 points breaching 15,000. Sensex has crashed below 15,000; it is the lowest level since August 2007. India markets are the worst performers in Asia underperforming all Asian peers.

he 30-share BSE Sensex plunged more than 750 points on sustained selling pressure in heavyweights. All sectors are trading in the negative.

The Sensex is currently trading lower at 14,999.16, down 761.36 points, or 4.83%, while the broad based NSE Nifty is trading at 4,536.50, down 209.7 points (10.38 a.m.).

Out of the total 2,101 stocks traded, 235 advanced, 1,833 declined, while 33 remained unchanged.

JP Associates is down nearly 9%, in the BFSI space HDFC and Reliance Capital down over 7%, ICICI Bank down 5.5%. Realty stocks DLF and Unitech are down 6%.

It is a sea of red in metals space with SAIL, Tata Steel Hindalco are down over 5%.

Asian markets have recovered from lower level. Hong Kong's Hang Seng declined 4.17%, Japan's Nikkei fell 3.76%, Taiwan's Taiwan Weighted was down 1.75%, Singapore's Straits Times dropped 1.63% or 46.18 points and South Korea's Seoul Composite plunged 2.22%.

Bear Stearns top holding is Jaiprakash Associates is Rs 651 crore, followed by Opto Circuits, Havells India, Madhucon Project and S Kumars Nation.

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