The key benchmark indices witnessed an unabated selling pressure across sectors, mirroring weakness in the global stock markets. 26 out of 30 stocks from the Sensex pack were in the red. Even the mid-and small-cap stocks tumbled, as reflected in the poor market breadth.
Asian markets, which opened before Indian markets, ended on a weak note. European markets, which opened after Indian markets, were trading lower. A global sell-off was triggered today after weak US data on Friday, 29 February 2008 and a record loss of insurer American International Group Inc fuelled worries that there are more write-downs to come.
The BSE Sensex tumbled 900.84 points or 5.12% to 16,677.88 registering its second biggest single day point loss on a closing basis. It was also Sensex’s second biggest single day fall in percentage terms. BSE Sensex’s fall of 1,408.35 points or 7.41% to 17,605.35 on 21 January 2008 is its biggest ever fall in record.
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