Sensex tanks 491 points on global cues

Mumbai, Nov 3 (PTI) The Bombay Stock Exchange benchmark
Sensex Tuesday tumbled by close to 500 points to close at two-
month low amid a steep fall in bourses across the world on
fears that economic recovery will not be as swift as expected.

Extending losses to the sixth day in a row, the 30-share
Sensex closed sharply lower by 491.34 points to close at
15,404.94, a level last seen on September 3.
The biggest fall before this was on August 17 when it
tanked 600 points. In the previous five trading sessions, it
had lost 914.53 points.
The National Stock Exchange index Nifty also dropped by
147.80 points, or 3.14 per cent to 4,563.90.
Hectic selling was further augmented in the last one hour
of trading trading after in European stocks opened weaker.
Blue-chips such as RIL, Infosys, SBI led the fall. Metal
major Hindalco was the biggest loser at 10.50 per cent.
Bharti Airtel, Maruti Suzuki and Sun Pharma avoided
selling fury and helped the market to avert steeper fall.
Among the 30-BSE index stocks, 27 ended with hefty losses.
The stocks of RIL, Infosys, SBI, Hindalco and DLF carry
nearly 30 per cent weight on the benchmark index.
Marketmen said selling was triggered by steep fall in
global markets discarding positive developments like better
manufacturing data in the US. However, fears of mounting job
losses dampened the investor sentiment. In Europe FTSE 100
index opened over 100 points lower.
In Asia, Hang Seng is down 1.76 per cent. PTI RS
DDC


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