Sensex plunges 445 points at 19,865 points, lowest in monthBy IANS
Tuesday, November 16, 2010
MUMBAI - A benchmark index of Indian equities plunged 2.19 percent to 19,865 points, the lowest level in almost a month, on heavy selling pressure amid weak Asian cues.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) dropped 445 points or 2.19 percent, the sharpest fall in over five months, to close at 19,865.14 points.
At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty tumbled 2.17 percent or 132.90 points to 5,988.70 points.
All the broader market indices also closed deep in the red. The BSE midcap fell 2.15 percent to 8,266 points and the BSE smallcap index ended nearly three percent lower at 10,567 points.
Sterlite Industries, the country’s largest copper and zinc producer, plunged 5.4 percent as metal prices dropped in the international market. Hindalco Industries dropped 5.12 percent to Rs.212.05.
There was also heavy selling pressure in auto and banking scrips. Tata Motors fell nearly four percent and Mahindra and Mahindra ended nearly three percent lower.