Sensex plunges 204 points in early trade
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The Bombay Stock Exchange benchmark Sensex dipped below the 13k level and lost over 204 points in early trade on Friday on all-round selling by funds despite the US Senate's approval to a modified rescue package for the troubled financial sector.
The 30-share index fell by 204.47 points to 12,851.47 on major sell-off by foreign funds and retail investors mainly in the stocks of metals, banking, oil and gas and IT sectors.
The National Stock Exchange index Nifty plunged by 54.20 points at 3,896.55 with all the heavy-weight stocks trading in negative zone.
Marketmen said reports of a weakening trend in the global markets amid depreciating Indian rupee against the US dollar influenced the trading sentiments in Mumbai.
Rupee fell by 49 paisa to 47.11 against the US dollar in early trading on the Forex market.
Stocks of Sterlite Industries were distinctly weak and lost Rs 26.60 or 6.19 percent at Rs 402.80, while largest lender in the private sector ICICI Bank fell Rs 3.65 at Rs 547.80.
Other major losers which pulled the Sensex down were Infosys Technologies, which plunged by Rs 56 at Rs 1,397.90, Reliance Industries tumbled Rs 38.45 at Rs 1,868.80, State Bank of India by Rs 10.45 at Rs 1,491, Tata Power by Rs 13.50 at Rs 933 and Tata Steel by Rs 12.75 at Rs 425.90.
Meanwhile, the United States Dow Jones Industrial Average fell 3.22 percent on Thursday night, while Hong Kong's Hang Seng was down by 2.01 percent in early trade on Friday.
The 30-share index fell by 204.47 points to 12,851.47 on major sell-off by foreign funds and retail investors mainly in the stocks of metals, banking, oil and gas and IT sectors.
The National Stock Exchange index Nifty plunged by 54.20 points at 3,896.55 with all the heavy-weight stocks trading in negative zone.
Marketmen said reports of a weakening trend in the global markets amid depreciating Indian rupee against the US dollar influenced the trading sentiments in Mumbai.
Rupee fell by 49 paisa to 47.11 against the US dollar in early trading on the Forex market.
Stocks of Sterlite Industries were distinctly weak and lost Rs 26.60 or 6.19 percent at Rs 402.80, while largest lender in the private sector ICICI Bank fell Rs 3.65 at Rs 547.80.
Other major losers which pulled the Sensex down were Infosys Technologies, which plunged by Rs 56 at Rs 1,397.90, Reliance Industries tumbled Rs 38.45 at Rs 1,868.80, State Bank of India by Rs 10.45 at Rs 1,491, Tata Power by Rs 13.50 at Rs 933 and Tata Steel by Rs 12.75 at Rs 425.90.
Meanwhile, the United States Dow Jones Industrial Average fell 3.22 percent on Thursday night, while Hong Kong's Hang Seng was down by 2.01 percent in early trade on Friday.
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