Sensex slips 324 points amid global slide

Mirroring weak cues from the global markets, the Sensex opened with a negative gap of 272 points at 9,098. The index after extending losses tried hard to recover but could only manage to touch a high of 9,124.

The Sensex, thereafter, dipped deeper into red to a low of 8,947 - down 423 points from the previous close - before settling with a loss of 324 points (3.5%) at 9,047.

Global markets were weak today following negative cues from the US markets. Neighbouring Asian markets - Hang Seng, Nikkei, Taiwan, Singaore and Malaysia - ended with significant losses of 3-6% each.

The market breadth was fairly negative - out of 2,447 stocks traded, 1,649 declined, 698 advanced and 100 were unchanged today.

The BSE Bankex slumped 5.7% to 4,919. The BSE Realty and Metal indices shed over 4.5% each at 1,766 and 4,829, respectively. The IT index was down over 4% at 2,163.

INDEX SHAKERS...

Jaiprakash Assocaites slumped 8% to Rs 65. Tata Steel, ICICI Bank and Sterlite plunged over 7% each to Rs 198, Rs 409 and Rs 254, respectively.

Reliance Communications tumbled 6% to Rs 174. HDFC Bank and TCS shed nearly 5.5% each at Rs 925 and Rs 510, respectively.

Hindalco, DLF and SBI dropped around 4.5% each to Rs 48, Rs 202 and Rs 1,147, respectively.

Infosys and Tata Power slipped around 4% each to Rs 1,252 and Rs 737, respectively.

Wipro, Tata Motors and Reliance Infrastructure declined around 3.5% each to Rs 235, Rs 151 and Rs 504, respectively.

Bharti Airtel, ONGC, HDFC and Reliance were down around 3% each to Rs 604, Rs 624, Rs 1,535 and Rs 1,143, respectively.

MOST ACTIVE COUNTERS

Reliance topped the value chart with a turnover of Rs 257.35 crore followed by Reliance Natural Resources (144.90 crore), Reliance Capital (Rs 132.85 crore), Satyam (Rs 122.30 crore) and ICICI Bank (Rs 119 crore).

Satyam led the volume chart with trades of around 5.60 crore shares followed by Reliance Natural Resources (2.82 crore), Unitech (1.48 crore), Jaiprakash Associates (71 lakh) and GVK Power (65.35 lakh).