Equity markets continue in free fall (Lead)

September 15th, 2008 - 1:17 pm ICT by IANS  

SensexMumbai, Sep 15 (IANS) Indian equity markets continued in their free fall Monday morning on the back of news that Lehman Bros of the US had decided to file for bankruptcy which came on top of the serial blasts in the country’s capital New Delhi Saturday.The 30-share benchmark sensitive index of the Bombay Stock Exchange, the Sensex, was down by 747.76 points or 5.34 percent from its previous close one hour into trading. The Sensex was at 13,253.05 points at 11 a.m.

At the same time the broader based 50-share S&P Nifty index of the National Stock Exchange was down 221.4 points or 5.24 percent to 4,007.05 points compared to its previous close Friday at 4,228.45.

The world’s fourth largest investment bank Lehman Bros filed for Chapter 11 bankruptcy under US laws early Monday morning after it failed to find any white knight to bail it out of its troubles.

This bad news early Monday morning together with nervousness arising from Saturday’s serial blasts in the national capital Delhi found investors resorting to panic selling.

The BSE midcap index was down 307.73 points or 5.56 percent to 5,229.41.

The BSE small cap index was down 327.65 points or 4.88 percent to 6,383.89.

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