Stock markets crash, Sensex tanks 1661 points
21 Jan 2008 Leave a Comment
in Stock Market Tags: Sensex tanks 1661 points, Stock markets crash
The stock market benchmark Sensex shed 1,660.85 points, as the market was engulfed by selling pressure fuelled by weak global cues.
The 30-share index was trading at 17352.85 points at 1430 hrs as major market players remained net sellers, pushing almost all heavy-weight stocks to their recent lows.
The National Stock Exchange index Nifty too dropped by 424.35 points at 5,280.95, as metal and realty stocks suffered the most.
Marketmen said weakness across global market in the last six trading sessions including today has pulled down the market to levels last seen in October last year.
They said RBI governor YV Reddy’s statement that the central bank would continue to be sensitive to high crude and food prices prevailing globally, further fuelled selling.
Absence of overseas investors from the market due to rising concerns of inflation in the US, also remained a dampening factor, they added.
