Stock languish; Sterlite, ICICI Bank worst hit
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Stocks extended losses in afternoon trade joining the rest of Asia in a
broad sell-off after US markets plunged to five and a half year lows
overnight. All sectoral indices were struggling in the negative territory
with realty and banking stocks being the worst hit.

At 1:30 pm, Bombay Stock Exchange's Sensex was at 8,358.28, down 415.50
points or 4.74 per cent with 29 of its 30 stocks registering losses. The
index touched an intra-day low of 8316.39 and a high of 8489.65 in trade so
far.

National Stock Exchange's Nifty was down 3.71 per cent or 97 points at
2537.20. The index touched an intra-day low of 2502.90 after opening at
2634.20.

Second rung stocks were also not spared. BSE Midcap and Smallcap indices
were down 3.95 per cent and 3.51 per cent respectively.

Among frontline stocks, Sterlite Industries (-9.11%), Reliance
Communications (9.05%), ICICI Bank (-8.69%), Tata Power (-8.14%) and HDFC
(-7.14%) were under pressure.

Reliance Industries, with the maximum weightage in the index, fell 5.5 per
cent to Rs 1,070.80.

ACC, up 0.45 per cent, was the lone gainer in the 30-share index.

Market breadth worsened with 1887 declines against 460 advances on BSE.
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