Stock markets turned a sea of red today, with the BSE Sensex plunging the most in 26 months – down 704 points to 16,361.15 at the close -- as investors dumped equities globally on US Fed warning on the American economy, triggering fresh fears of worldwide slowdown.
Similarly, the broad-based NSE index Nifty plunged 209.60 points, or 4.08 per cent to close below 5K mark at 4,923.65.
All the 13 sectoral indices closed with sharp losses of up to 6 per cent, while all 30 Sensex-scrips closed in red.
Investors lost over Rs 2 lakh crore in the meltdown. Besides, fall of the rupee to over 2-year lows against the US dollar -- Rs 49.36 per USD in intra-day trade – weakest level since July 13, 2009, added to investor worries.
economy.Asian and European markets tumbled, following drubbing of the Wall Street as funds pulled out of risky assets on worries over slowing global
Analysts said the US Federal Reserve disappointed investors with its stimulus plan yesterday, while warning of serious downside risks to American growth amid severe euro zone debt crisis.
The US indices, Dow Jones and Nasdaq tanked 2.49 per cent and 2.01 per cent respectively, weighing heavily on other global markets today.
The Hong Kong's Heng Seng dropped 4.85 per cent, Japan's Nikkei by 2.07 per cent, Indonesia¿s index by 8.88 per cent.
Markets fell more than 3 per cent in Taiwan, Russia and Poland. The European indices, led by London' FTSE plunged 4.55 per cent, followed by Paris - 4.65 per cent - in early trade.
The 30-share BSE index, Sensex, opened 230 points lower and plunged to 16,361.15, a fall of 704.00 points or 4.13 per cent. It had plunged by 869.65 points or 5.83 per cent on July 6, 2009.two carry over 20 per cent weight on the Sensex. RIL alone contributed over 110 points to the fall.economy," said Amit Chheda, Equity Head at Inventure Growth and Securities.Reliance Industries fell 6.16 per cent and Infosys by 3.28 per cent. The
"Nonetheless, worries in Euro zone are larger at the moment. Unless a comprehensive bail-out is not acted upon, we could see high risks to European banks holding euro-assets, which could lead to a domino effect in other continents as well," Chheda added.
Meanwhile, Finance Minister Pranab Mukherjee, who is on a visit to the US, expressed confidence that India will be able to achieve 8 per cent growth this year, even as he noted that the global economic environment remains an area of concern.
"We will have 8 per cent growth even this year, though the first quarter growth figure is 7.7 per cent," he told reporters here after meeting leading Indian industrialists at an investment forum.
Investors ignored sharp dip in food inflation to 8.84 per cent for week ended September 10, from 9.47 per cent in the earlier week.was the top loser from the Sensex pack with a fall of 9.33 per cent, followed by DLF (7.16 pc), Sterlite Ind (6.82 pc), Tata Motors (5.98 pc), Bharti Airtel (5.22 pc), Jindal Steel (4.90 pc), TCS (4.59 pc), Hindalco (4.52 pc), L&T (4.46 pc), HDFC (4.42 pc), HDFC Bank (4.28 pc), ICICI Bank (4.20 pc), NTPC (4.14 pc) and Wipro (4.14 pc).Jaiprakash Associates
Others closed down between 1 per cent and 4.0 per cent.
Among sectoral indices, BSE-Realty crashed by 5.67 pc, Metal (4.34 pc), Oil&Gas (4.19 pc), Teck (4.10 pc), Bankex (3.98 pc), Auto (3.86 pc), IT (3.86 pc) and Capital Goods (3.83 pc).
The total market breadth at BSE was sharply weak as 2,235 stocks ended with losses, while only 606 finished with gains.
Analysts said the US Federal Reserve disappointed investors with its stimulus plan yesterday, while warning of serious downside risks to American growth amid severe euro zone debt crisis.
The US indices, Dow Jones and Nasdaq tanked 2.49 per cent and 2.01 per cent respectively, weighing heavily on other global markets today.
The Hong Kong's Heng Seng dropped 4.85 per cent, Japan's Nikkei by 2.07 per cent, Indonesia¿s index by 8.88 per cent.
Markets fell more than 3 per cent in Taiwan, Russia and Poland. The European indices, led by London' FTSE plunged 4.55 per cent, followed by Paris - 4.65 per cent - in early trade.
The 30-share BSE index, Sensex, opened 230 points lower and plunged to 16,361.15, a fall of 704.00 points or 4.13 per cent. It had plunged by 869.65 points or 5.83 per cent on July 6, 2009.two carry over 20 per cent weight on the Sensex. RIL alone contributed over 110 points to the fall.economy," said Amit Chheda, Equity Head at Inventure Growth and Securities.Reliance Industries fell 6.16 per cent and Infosys by 3.28 per cent. The
"Nonetheless, worries in Euro zone are larger at the moment. Unless a comprehensive bail-out is not acted upon, we could see high risks to European banks holding euro-assets, which could lead to a domino effect in other continents as well," Chheda added.
Meanwhile, Finance Minister Pranab Mukherjee, who is on a visit to the US, expressed confidence that India will be able to achieve 8 per cent growth this year, even as he noted that the global economic environment remains an area of concern.
"We will have 8 per cent growth even this year, though the first quarter growth figure is 7.7 per cent," he told reporters here after meeting leading Indian industrialists at an investment forum.
Investors ignored sharp dip in food inflation to 8.84 per cent for week ended September 10, from 9.47 per cent in the earlier week.was the top loser from the Sensex pack with a fall of 9.33 per cent, followed by DLF (7.16 pc), Sterlite Ind (6.82 pc), Tata Motors (5.98 pc), Bharti Airtel (5.22 pc), Jindal Steel (4.90 pc), TCS (4.59 pc), Hindalco (4.52 pc), L&T (4.46 pc), HDFC (4.42 pc), HDFC Bank (4.28 pc), ICICI Bank (4.20 pc), NTPC (4.14 pc) and Wipro (4.14 pc).Jaiprakash Associates
Others closed down between 1 per cent and 4.0 per cent.
Among sectoral indices, BSE-Realty crashed by 5.67 pc, Metal (4.34 pc), Oil&Gas (4.19 pc), Teck (4.10 pc), Bankex (3.98 pc), Auto (3.86 pc), IT (3.86 pc) and Capital Goods (3.83 pc).
The total market breadth at BSE was sharply weak as 2,235 stocks ended with losses, while only 606 finished with gains.
Analysts said the US Federal Reserve disappointed investors with its stimulus plan yesterday, while warning of serious downside risks to American growth amid severe euro zone debt crisis.
The US indices, Dow Jones and Nasdaq tanked 2.49 per cent and 2.01 per cent respectively, weighing heavily on other global markets today.
The Hong Kong's Heng Seng dropped 4.85 per cent, Japan's Nikkei by 2.07 per cent, Indonesia¿s index by 8.88 per cent.
Markets fell more than 3 per cent in Taiwan, Russia and Poland. The European indices, led by London' FTSE plunged 4.55 per cent, followed by Paris - 4.65 per cent - in early trade.
The 30-share BSE index, Sensex, opened 230 points lower and plunged to 16,361.15, a fall of 704.00 points or 4.13 per cent. It had plunged by 869.65 points or 5.83 per cent on July 6, 2009.two carry over 20 per cent weight on the Sensex. RIL alone contributed over 110 points to the fall.economy," said Amit Chheda, Equity Head at Inventure Growth and Securities.Reliance Industries fell 6.16 per cent and Infosys by 3.28 per cent. The
"Nonetheless, worries in Euro zone are larger at the moment. Unless a comprehensive bail-out is not acted upon, we could see high risks to European banks holding euro-assets, which could lead to a domino effect in other continents as well," Chheda added.
Meanwhile, Finance Minister Pranab Mukherjee, who is on a visit to the US, expressed confidence that India will be able to achieve 8 per cent growth this year, even as he noted that the global economic environment remains an area of concern.
"We will have 8 per cent growth even this year, though the first quarter growth figure is 7.7 per cent," he told reporters here after meeting leading Indian industrialists at an investment forum.
Investors ignored sharp dip in food inflation to 8.84 per cent for week ended September 10, from 9.47 per cent in the earlier week.was the top loser from the Sensex pack with a fall of 9.33 per cent, followed by DLF (7.16 pc), Sterlite Ind (6.82 pc), Tata Motors (5.98 pc), Bharti Airtel (5.22 pc), Jindal Steel (4.90 pc), TCS (4.59 pc), Hindalco (4.52 pc), L&T (4.46 pc), HDFC (4.42 pc), HDFC Bank (4.28 pc), ICICI Bank (4.20 pc), NTPC (4.14 pc) and Wipro (4.14 pc).Jaiprakash Associates
Others closed down between 1 per cent and 4.0 per cent.
Among sectoral indices, BSE-Realty crashed by 5.67 pc, Metal (4.34 pc), Oil&Gas (4.19 pc), Teck (4.10 pc), Bankex (3.98 pc), Auto (3.86 pc), IT (3.86 pc) and Capital Goods (3.83 pc).
The total market breadth at BSE was sharply weak as 2,235 stocks ended with losses, while only 606 finished with gains.
The total turnover was relatively up at Rs 2,818.81 crore from Rs 2,536.54 crore yesterday.
Similarly, the broad-based NSE index Nifty plunged 209.60 points, or 4.08 per cent to close below 5K mark at 4,923.65.
All the 13 sectoral indices closed with sharp losses of up to 6 per cent, while all 30 Sensex-scrips closed in red.
Investors lost over Rs 2 lakh crore in the meltdown. Besides, fall of the rupee to over 2-year lows against the US dollar -- Rs 49.36 per USD in intra-day trade – weakest level since July 13, 2009, added to investor worries.
economy.Asian and European markets tumbled, following drubbing of the Wall Street as funds pulled out of risky assets on worries over slowing global
Analysts said the US Federal Reserve disappointed investors with its stimulus plan yesterday, while warning of serious downside risks to American growth amid severe euro zone debt crisis.
The US indices, Dow Jones and Nasdaq tanked 2.49 per cent and 2.01 per cent respectively, weighing heavily on other global markets today.
The Hong Kong's Heng Seng dropped 4.85 per cent, Japan's Nikkei by 2.07 per cent, Indonesia¿s index by 8.88 per cent.
Markets fell more than 3 per cent in Taiwan, Russia and Poland. The European indices, led by London' FTSE plunged 4.55 per cent, followed by Paris - 4.65 per cent - in early trade.
The 30-share BSE index, Sensex, opened 230 points lower and plunged to 16,361.15, a fall of 704.00 points or 4.13 per cent. It had plunged by 869.65 points or 5.83 per cent on July 6, 2009.two carry over 20 per cent weight on the Sensex. RIL alone contributed over 110 points to the fall.economy," said Amit Chheda, Equity Head at Inventure Growth and Securities.Reliance Industries fell 6.16 per cent and Infosys by 3.28 per cent. The
"Nonetheless, worries in Euro zone are larger at the moment. Unless a comprehensive bail-out is not acted upon, we could see high risks to European banks holding euro-assets, which could lead to a domino effect in other continents as well," Chheda added.
Meanwhile, Finance Minister Pranab Mukherjee, who is on a visit to the US, expressed confidence that India will be able to achieve 8 per cent growth this year, even as he noted that the global economic environment remains an area of concern.
"We will have 8 per cent growth even this year, though the first quarter growth figure is 7.7 per cent," he told reporters here after meeting leading Indian industrialists at an investment forum.
Investors ignored sharp dip in food inflation to 8.84 per cent for week ended September 10, from 9.47 per cent in the earlier week.was the top loser from the Sensex pack with a fall of 9.33 per cent, followed by DLF (7.16 pc), Sterlite Ind (6.82 pc), Tata Motors (5.98 pc), Bharti Airtel (5.22 pc), Jindal Steel (4.90 pc), TCS (4.59 pc), Hindalco (4.52 pc), L&T (4.46 pc), HDFC (4.42 pc), HDFC Bank (4.28 pc), ICICI Bank (4.20 pc), NTPC (4.14 pc) and Wipro (4.14 pc).Jaiprakash Associates
Others closed down between 1 per cent and 4.0 per cent.
Among sectoral indices, BSE-Realty crashed by 5.67 pc, Metal (4.34 pc), Oil&Gas (4.19 pc), Teck (4.10 pc), Bankex (3.98 pc), Auto (3.86 pc), IT (3.86 pc) and Capital Goods (3.83 pc).
The total market breadth at BSE was sharply weak as 2,235 stocks ended with losses, while only 606 finished with gains.
The total turnover was relatively up at Rs 2,818.81 crore from Rs 2,536.54 crore yesterday.economy.Asian and European markets tumbled, following drubbing of the Wall Street as funds pulled out of risky assets on worries over slowing global
Analysts said the US Federal Reserve disappointed investors with its stimulus plan yesterday, while warning of serious downside risks to American growth amid severe euro zone debt crisis.
The US indices, Dow Jones and Nasdaq tanked 2.49 per cent and 2.01 per cent respectively, weighing heavily on other global markets today.
The Hong Kong's Heng Seng dropped 4.85 per cent, Japan's Nikkei by 2.07 per cent, Indonesia¿s index by 8.88 per cent.
Markets fell more than 3 per cent in Taiwan, Russia and Poland. The European indices, led by London' FTSE plunged 4.55 per cent, followed by Paris - 4.65 per cent - in early trade.
The 30-share BSE index, Sensex, opened 230 points lower and plunged to 16,361.15, a fall of 704.00 points or 4.13 per cent. It had plunged by 869.65 points or 5.83 per cent on July 6, 2009.two carry over 20 per cent weight on the Sensex. RIL alone contributed over 110 points to the fall.economy," said Amit Chheda, Equity Head at Inventure Growth and Securities.Reliance Industries fell 6.16 per cent and Infosys by 3.28 per cent. The
"Nonetheless, worries in Euro zone are larger at the moment. Unless a comprehensive bail-out is not acted upon, we could see high risks to European banks holding euro-assets, which could lead to a domino effect in other continents as well," Chheda added.
Meanwhile, Finance Minister Pranab Mukherjee, who is on a visit to the US, expressed confidence that India will be able to achieve 8 per cent growth this year, even as he noted that the global economic environment remains an area of concern.
"We will have 8 per cent growth even this year, though the first quarter growth figure is 7.7 per cent," he told reporters here after meeting leading Indian industrialists at an investment forum.
Investors ignored sharp dip in food inflation to 8.84 per cent for week ended September 10, from 9.47 per cent in the earlier week.was the top loser from the Sensex pack with a fall of 9.33 per cent, followed by DLF (7.16 pc), Sterlite Ind (6.82 pc), Tata Motors (5.98 pc), Bharti Airtel (5.22 pc), Jindal Steel (4.90 pc), TCS (4.59 pc), Hindalco (4.52 pc), L&T (4.46 pc), HDFC (4.42 pc), HDFC Bank (4.28 pc), ICICI Bank (4.20 pc), NTPC (4.14 pc) and Wipro (4.14 pc).Jaiprakash Associates
Others closed down between 1 per cent and 4.0 per cent.
Among sectoral indices, BSE-Realty crashed by 5.67 pc, Metal (4.34 pc), Oil&Gas (4.19 pc), Teck (4.10 pc), Bankex (3.98 pc), Auto (3.86 pc), IT (3.86 pc) and Capital Goods (3.83 pc).
The total market breadth at BSE was sharply weak as 2,235 stocks ended with losses, while only 606 finished with gains.
The total turnover was relatively up at Rs 2,818.81 crore from Rs 2,536.54 crore yesterday.economy.Asian and European markets tumbled, following drubbing of the Wall Street as funds pulled out of risky assets on worries over slowing global
Analysts said the US Federal Reserve disappointed investors with its stimulus plan yesterday, while warning of serious downside risks to American growth amid severe euro zone debt crisis.
The US indices, Dow Jones and Nasdaq tanked 2.49 per cent and 2.01 per cent respectively, weighing heavily on other global markets today.
The Hong Kong's Heng Seng dropped 4.85 per cent, Japan's Nikkei by 2.07 per cent, Indonesia¿s index by 8.88 per cent.
Markets fell more than 3 per cent in Taiwan, Russia and Poland. The European indices, led by London' FTSE plunged 4.55 per cent, followed by Paris - 4.65 per cent - in early trade.
The 30-share BSE index, Sensex, opened 230 points lower and plunged to 16,361.15, a fall of 704.00 points or 4.13 per cent. It had plunged by 869.65 points or 5.83 per cent on July 6, 2009.two carry over 20 per cent weight on the Sensex. RIL alone contributed over 110 points to the fall.economy," said Amit Chheda, Equity Head at Inventure Growth and Securities.Reliance Industries fell 6.16 per cent and Infosys by 3.28 per cent. The
"Nonetheless, worries in Euro zone are larger at the moment. Unless a comprehensive bail-out is not acted upon, we could see high risks to European banks holding euro-assets, which could lead to a domino effect in other continents as well," Chheda added.
Meanwhile, Finance Minister Pranab Mukherjee, who is on a visit to the US, expressed confidence that India will be able to achieve 8 per cent growth this year, even as he noted that the global economic environment remains an area of concern.
"We will have 8 per cent growth even this year, though the first quarter growth figure is 7.7 per cent," he told reporters here after meeting leading Indian industrialists at an investment forum.
Investors ignored sharp dip in food inflation to 8.84 per cent for week ended September 10, from 9.47 per cent in the earlier week.was the top loser from the Sensex pack with a fall of 9.33 per cent, followed by DLF (7.16 pc), Sterlite Ind (6.82 pc), Tata Motors (5.98 pc), Bharti Airtel (5.22 pc), Jindal Steel (4.90 pc), TCS (4.59 pc), Hindalco (4.52 pc), L&T (4.46 pc), HDFC (4.42 pc), HDFC Bank (4.28 pc), ICICI Bank (4.20 pc), NTPC (4.14 pc) and Wipro (4.14 pc).Jaiprakash Associates
Others closed down between 1 per cent and 4.0 per cent.
Among sectoral indices, BSE-Realty crashed by 5.67 pc, Metal (4.34 pc), Oil&Gas (4.19 pc), Teck (4.10 pc), Bankex (3.98 pc), Auto (3.86 pc), IT (3.86 pc) and Capital Goods (3.83 pc).
The total market breadth at BSE was sharply weak as 2,235 stocks ended with losses, while only 606 finished with gains.
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