Black Monday returns: Sensex sheds 951 points to close sub-15,000
17 Mar 2008
Mumbai: Black Monday came to visit the markets once again at the start of this trading week, with the Sensex shedding 6 per cent, equalling 951 points, to close the day at 14,809.50, marking the second largest intra-day loss for the index, ever.
The only day worse than today was 21 January, 2008, when the Sensex shed 1,408 points. Having opened with a huge negative gap of 433 points at 15,327 on weak cues from the overseas markets, the day was a virtual bloodbath at the markets, with the BSE hitting an intra-day low of 14,738.
The NSE Nifty also closed down by 243 points, or 5.1 per cent, at 4,503 levels. Selling was evident in real estate, oil and gas, banking and metal sectors.
Other Asian markets were also down on global volatility, with Hong Kong's Hang Seng, Japan's Nikkei and South Korea's Kospi shedding over 1.6 per cent each.
The BSE banking index shed 9.8 per cent, or 812 points was worst hit among the sectoral indices. Kotak Mahindra, Axis Bank, ICICI Bank and Yes Bank were the day's major losers. Amongst BSE's scrips, ICICI Bank shedding 13.8 per cent or Rs 121 at Rs 757, and was the biggest loser in the BSE-30. Other major losers included Jaiprakash Associates, Hindalco, Tata Steel, Reliance Energy and HDFC.
Among the NSE-50 scrips, HCL Technologies, ABB, Nalco and Grasim Industries were down by over 7.1 per cent each.
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