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Sensex sheds 385 points

Sharp losses in Reliance, Infosys and ICICI Bank counters

— PHOTO: PTI

DIFFERENT MOODS: Investors watch the stock prices on the screen of a Bombay Stock Exchange in Mumbai on Thursday.

MUMBAI: The Bombay Stock Exchange’s sensitive index, Sensex, once again dipped below the10000- level on Thursday after losing over 385 points on the funds’ selling spree on concerns of deepening global recession fears, coupled with a moderate rise in inflation rate.

The Sensex, which had lost 511 points in previous day’s trading, fell by another 385.79 points at 9734.22 after touching a low of 9,635.22 against 10120.01 on Wednesday, following a steep fall in blue-chip stocks led by Reliance Industries.

The wide-based National Stock Exchange index, Nifty, also fell below 2900-level to trade at 2892.65, reflecting a loss of 102.30 points. It hit the lowest level of 2860.25 points during the day.

Besides, a weakening trend in global stock markets influenced by global financial crisis fears also dampened the trading sentiment on the domestic bourses.

While heavyweight stocks led by Reliance Industries, Infosys Technologies and ICICI Bank fell sharply on brisk selling, a smart recovery in realty and healthcare sector stocks saved the market from further fall.

Metal sector index suffered the most by losing 458.30 points, or 8.41 per cent at 4993.44. Oil and gas sector index was second worst performer by losing 295.17 points — PTI

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