Sensex crashes 642 points; Markets savaged by subprime fears
16 Aug 2007
It was an extremely weak session for the markets as they ended in deep red tracking its global peers. The sub prime problem has impacted stock markets globally Dow has slipped below 13,000 level and Asia closed down 4-6%. Even European markets have opened in red. Also the yen has appreciated against the dollar and is trading at 113.90.
All the BSE sector indices were in deep red ranging between 3-5%. Banking, relaty and metal stocks are the worst hit space today. All the Sensex and Nifty stocks are in red. (See:Sensex crashes over 600 points in opening trade)
Top losers on the indices were Tata Steel & Sterlite down over 8%, Bharti Airtel down & VSNL down over 6% and BHEL & ICICI Bank down 5% each.
Sensex was down 642.70 points or 4.28% at 14358.21, and the Nifty down 191.60 points or 4.38% at 4178.60.About 979 shares have advanced, 1971 shares declined, and 51 shares are unchanged.
The NSE cash turnover was at Rs 11778.41 crore and the NSE F&O turnover was at Rs 46447.41 crore. The BSE cash turnover was Rs 5619.45 crore. Total market wide turnover was at Rs 63845.27 crore.
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