Bad global cues pull Sensex below 13000; Bankex, IT dip 6 per cent
29 Sep 2008
Markets got heavily battered today on the back of bad global cues though they have shown some recovery in late trade, as two European financial firms freed from credit crisis and US Congress is set to vote on a USD 700 billion bailout plan. Realty, banking, technology, power, telecom, capital goods, metal and auto stocks took huge beating on the bourses.
Heavyweights have pulled the markets lower like ICICI Bank, L&T, Reliance Industries, Infosys, Bharti Airtel, Satyam, HDFC Bank, HDFC, Reliance Communication and TCS.
The Sensex lost 472 points to 12,629 and the Nifty fell 115 points to 3,869 (provisional).
Asian markets are trading lower. Hang Seng fell 1.98%, Nikkei -0.59%, Straits Times -0.39% and Kospi -0.42%. However, Jakarta rose just 0.06%.
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