Stocks trip on Black Friday
Mumbai: Foreign institutional investors (FIIs) continued their battering in new-economy stocks and unloaded heavily in prominent blue chips fearing a devastating impact from the imminent air-strikes on neighbouring countries by the US.

Technology and old-economy heavyweights pulled the benchmark BSE Sensex to a new eight-year low. The 30-share index crashed 167 points within minutes of the market opening, to an intra-day low of 2,593. The Sensex closed at 2,600.12, losing 161.54 points, or 5.85 per cent.

Many blue-chip scrips fell in nervous trade, recording new lows. State Bank of India lost Rs 13.70 to close at Rs 140.55 -- a new two-year low. SBI has lost 10 per cent in the last two sessions. Reliance Industries lost Rs 24.05 to close at Rs 216.55. RIL has lost nearly 15 per cent in the last four sessions.

Technology stocks too suffered heavily following the meltdown at Nasdaq. Infosys Technologies lost Rs 245.70, hitting a new 28-month low to close at Rs 2,211.35. Satyam Computer lost Rs 12.50 to touch a three-year low and closed at Rs 113.10. Wipro has suffered the maximum, a drop of 39 per cent, in the last five sessions. It fell Rs 55.35 today to close at Rs 887.20. NIIT touched an all-time low of Rs 86.60. Other fancied stocks such as German Remedies, HCL Technologies, Indian Hotels, Silverline, SSI, SmithKlineBeecham Pharma and Thermax also fell.
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