Sensex falls below 17K level on Greece debt concerns
Sensex on Wednesday tanked over 268 points to trade below the 17,000- points level in opening trade in line with the meltdown in overseas markets on concerns that Greece`s debt crisis could spread to other countries.
Mumbai: The Bombay Stock Exchange benchmark Sensex on Wednesday tanked over 268 points to trade below the 17,000- points level in opening trade in line with the meltdown in overseas markets on concerns that Greece`s debt crisis could spread to other countries.
The 30-share index, which had lost over 421 points in the previous two sessions, plunged further by 268.31 points, or 1.56 percent to slump below the 17,000-points level—for the first time since March 5--at 16,868.83 points.
All the sectoral indices, led by metals and realty, were trading in the negative zone with losses up to 2.95 percent.
Likewise, the wide-based National Stock Exchange index Nifty fell below 5,100-points level to trade at 84.45 points, or 1.64 percent down at 5,064.05.
Marketmen said investors sold shares heavily after a steep fall in the US and Asian stocks markets on concerns that Europe`s attempt to contain Greece`s debt crisis would not stop it from spreading to other countries.
Sterlite Industries fell 4.44 percent to Rs 740.65, Tata Steel by 3.40 percent to Rs 558.90, Hindalco Industries by 2.58 percent to Rs 158.70, Reliance Industries by 1.26 percent to Rs 1,008, Infosys Technologies by 1.43 percent to Rs 2,628.70 and State Bank of India by 1.35 percent to Rs 2,250.40.
Meanwhile, the US Dow Jones Industrial Average ended 2.02 percent lower in yesterday`s trade, while Hong Kong`s Hang Seng shed 1.97 percent in the morning trade today.