Sensex down 875 points at 16,729.94 in a volatile market

22 January 2008

Mumbai: The Bombay Stock Market sensitive index (Sensex) recorded its biggest intra-day fall of 2,251 points, 200 points above yesterday's intra-day fall of 2,049.74 points as share markets across the world saw a second day of bear hammering. (See: Worst fall in Indian trading history)

The Sensex closed at 16,729.94 points, down 875.41 points, or 4.97 per cent, from yesterday's close of 17,605.35.

The recovery was remarkable since the index had plummeted 2,251.46 points, or 12.79 per cent, to 15,353.89 points at noon, in a day of highly volatile trading.

This was also its biggest intraday fall since May 2004. The Sensex has shed 27.2 per cent from a record high hit on January 10.

The 50-share National Stock Exchange (NSE) index Nifty closed 309 points or 4.45 per cent down at 4,977.10, having fallen as much as 14.6 per cent.

Trading was halted for nearly an hour after the Sensex fell over 2,000 points within seconds of the markets' opening as panic-stricken trades dumped stocks.