Tech & Biz

BSE Sensex(India) slumps 9 pct early in trade

by Amitjha | October 9, 2008 at 10:09 pm

253 views | 2 Recommendations | 1 comment

Nothing seems to working for market, any move on government's part seems to be going in waste.In early day trade SENSEX dived 9% , with small hint of recovery. IT stocks are major sufferers, along with steel stock.

UPDATE:The 30-share BSE index provisionally fell 791.67 points to 10,536.69. It dropped as much as 9.6 percent in early trade.

The 50-share NSE index provisionally shed 6.7 percent to 3,278.50..

The BSE Sensex fell more than 9 percent early on Friday, joining a global selloff on worries about a recession despite worldwide central bank measures to stave off a crisis.

Infosys Technologies fell 13 percent to 1,091.20 rupees after the No. 2 software exporter lowered its forecast in dollars, citing shaky global economic situation.

At 10:02 a.m., the 30-share BSE index was down 6.63 percent at 10,577.12, with all its components falling. It fell as much as 9.6 percent early.

The 50-share NSE index was down 6 percent at 3,302.85.