Business

Sensex revisits below 10000-mark

MUMBAI: The benchmark Sensex on Thursday tumbled to below 10000 level for the second time in five days as sustained selling continued on fears of credit crisis deepening and grim outlook for the domestic corporates.

With foreign funds as the top net sellers, the Sensex tumbled by 398.20 points to 9771.70, a level last seen on June 20, 2006. The key index hovered between the day’s low of 9681.28 and the high of 10260.55. The wide-based National Stock Exchange index Nifty also saw a drop of 122 points to close at 2943.15 after touching an intra-day low of 2917.15 as fence-sitters were on a fresh selling spree.

Also adding to the bearish sentiment due to global trouble was Prime Minister Manmohan Singh’s statement on Wednesday that said the country could face a ‘temporary slowdown’ from ‘the ripple effects’ of the global financial crisis. The market major and trend-setter Reliance Industries, dropped sharply by Rs. 100.30 to Rs, 1,215.25, its lowest since December 2006.

The second largest heavy-weight on the Sensex, Infosys dropped by Rs. 17.60 to Rs. 1,282.75.

The two carry nearly 23 per cent weightage on the index. Metal Index suffered the most by losing 622.53 points at 4,996.92. — PTI

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