Sensex feels inflation heat, nosedives 489 pointsApril 4th, 2008 - 6:59 pm ICT by admin
Mumbai, Apr 4 (ANI): Opening with a positive gap of 63 points, the 30-share sensitive index (Sensex) of the Bombay Stock Exchange on Friday shed 489 points before closing at 15,343.
The inflation has reached a three-year high of seven percent for the week ended March 22 as against 6.68 per cent in the week before.
Out of 2,697 stocks traded on the exchange, 1,823 declined and 808 advanced.
BHEL and HDFC plummeted around seven per cent, while Mahindra & Mahindra shed six per cent.
Larsen & Toubro plunged 5.7 per cent and Jaiprakash Associates plumettd over five per cent.
Bharti Airtel and Wipro dropped 4.5 per cent each, and ITC shed 3.5 per cent.
ICICI Bank, Maruti and Reliance fell three per cent, while Cipla plunged 2.7 per cent.
HDFC Bank, DLF, Reliance Communications and Infosys declined nearly 2.5 per cent each.
Tata Motors and NTPC fell 2.3 per cent, while Ambuja Cements, Reliance Energy, SBI and TCS were the other major losers.
Ranbaxy gained 2.5 per cent and Tata Steel ended a rupee higher at 661. (ANI)