Sensex crashes by over 650 points in afternoon trade

March 13th, 2008 - 4:45 pm ICT by admin  

(Lead)

Mumbai, March 13 (IANS) Indian equity markets continued to trade deep in the red Thursday and slumped by over 650 points in afternoon trade. There was heavy selling across all major sectors. At 2.15 p.m., Mumbai’s main 30-share index, the Sensex, was down 685.63 points or 4.25 percent at 15,442.35.

At the same time, the Nifty of the National stock Exchange was down 204.00 points or 4.19 percent at 4,668.00.

About 532 shares advanced, 2,467 declined, and 55 remained unchanged.

Some experts believe that emerging markets will see a further fall to the lows they saw in January. Nifty had gone down to 4,450 in January.

The realty index was the worst hit and was down 8.5 percent, followed by the metal index, down 6 percent.

It was a sea of red in large cap space. SAIL and Cairn India were down over 9 percent, Reliance Energy, BHEL and Unitech were down over 7 percent, Wipro and Bharti Airtel were down more than 6 percent.

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