The Hindu : Business : Biggest single day fall in Sensex

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Friday, Oct 19, 2007
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Biggest single day fall in Sensex

Special Correspondent

Nifty sees 500-point swing during the day

MUMBAI: The stock markets witnessed the biggest single day fall on Thursday as the Bombay Stock Exchange 30-share sensitive index (Sensex) lost 717.43 points at 17998.39. Metal, realty and bank stocks were the worst hit. On the National Stock Exchange (NSE) the 50-share Nifty also was down by 208.30 points at 5351.

The Participatory Notes (PNs) issued by the foreign institutional investors (FIIs) are still creating confusion in the stock market as the capital market regulator plans to impose a cap on the investments through this route, where the identity of the investor is unknown The heavy institutional selling took the indices to below the 18000-mark, which was achieved few days back.

Nifty saw a 500-point swing during the day and Nifty Junior, one of the indices which was hit badly as it was down by five per cent.

ACC’s results failed to enthuse the stock market as it was below market expectations. ACC, State Bank of India, ICICI Bank, Suzlon, Reliance Industries, Bharti were among the index heavy weights, which lost heavily.

However, IT major, TCS was up by three per cent as it bagged $1.2 billion order 10-year deal from Nielsen. Infosys and Satyam also gained on Thursday’s negative market. The BSE Bankex was down by 6 per cent at 9,034.68.

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