Market meltdown continued on the back of weakness in index heavyweights
and negative global cues. Sensex tumbled 321 points to close at 8779, while
Nifty finished at 2706, losing 90 points. Housing finance major HDFC plunged
7.5% after worse than expected quarterly numbers. Reliance Industries, which is
to declare its Q3 numbers tomorrow, plunged 5.3% as market fears weak
performance from the heavyweight. European shares were trading down, led by
beleaguered banking sector. Dow Jones futures were up 0.06%, while Nasdaq
futures were down 0.4%.
All the BSE sectoral indices barring FMCG index, which gained 0.8%,
closed with losses. Metal and Power indices were the worst hit, losing 4.1% and
3.9% respectively. HUL and ITC were the sole gainers among sensex stocks,
putting on 3.4% and 0.2% respectively, while Sterlite and HDFC plunged 8% and
7.5% respectively. BSE advance-decline ratio stood at 1:2.3.
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