The Hindu : Business : Sensex dives by 678 points

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Thursday, Nov 22, 2007
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Business

Sensex dives by 678 points

Special Correspondent

MUMBAI: In line with the Asian markets and other global markets, Indian stocks dipped by 678 points on Wednesday. It was now the fourth largest single day fall for the benchmark index, Sensex.

The worst hit stocks are of banking and metal, followed by power and capital goods sector.

The Bombay Stock Exchange 30-share sensitive index (Sensex) was down by 678.18 points or 3.52 per cent at 18602.62, and the Nifty by 219.85 points or 3.80 per cent at 5561.05.

Among the sector indices, the least hit was the IT index on hopes that the rupee might not appreciate further against the dollar.

The only good news for the market was that Religare Enterprises got listed on the bourses on Wednesday at Rs. 324 compared to its issue price of Rs. 185.

The BSE Midcap index closed at 8217.84, down by 4.7 per cent, and the BSE Smallcap index at 10265.23, down by 4 per cent.

Rupee ends weak

The rupee ended three paise weaker at 39.39/40 against the U.S. currency on Thursday.

In fairly active trading at the interbank foreign exchange market, the rupee traded in a range of 39.35 and 39.42 after resuming steady at 39.36/37 against a dollar from overnight close.

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