The benchmark Sensex on Thursday tumbled to below the 10,000-mark for the second time in five days as heavy selling continued on fears of the credit crisis deepening and grim outlook for the domestic companies.
With foreign funds selling the most, the Sensex tumbled by 398.20 points, or 3.92 per cent to 9,771.70, a level last seen on June 20, 2006. The key index hovered between a low of 9,681.28 and high of 10,260.55 in the day.
The National Stock Exchange (NSE) index Nifty also saw a drop of 122 points to close at 2,943.15 after touching an intraday low of 2,917.15 as fence-sitters went on a fresh selling spree on concerns of a slower growth for corporates.
Also adding to the bearish sentiments was Prime Minister Manmohan Singh’s statement yesterday that the country could face a ‘temporary slowdown’ from ‘the ripple effects’ of the global financial crisis.
Market major Reliance Industries (RIL) tumbled by Rs 100.30, or 7.62 per cent to Rs 1,215.25, its lowest since December 2006.
