Economy News - Sensex Drops Below 11000. Larsen And Turbo, Reliance, Infosys Plunged

Sensex Drops Below 11000. Larsen And Turbo, Reliance, Infosys Plunged

Author: Anurag Bhullar

The Indian stock market is feeling the heat of the worldwide financial crisis and on Wednesday the Bombay Stock Exchange (Sensex) fell below the 11,000 mark by shedding more than 500 points during the early trading session.

The major stocks that are badly hit on Wednesday include Infosys Technologies and Reliance Industries that plunged over 6 percent whereas Larsen and Turbo that was down over 10 percent.

With Heavy selling was seen in capital goods and consumer durables, BSE’s capital goods index was down over 8 percent and consumer durable index lost around 6%.

According to industry sources, “Weak global trends are heavily impacting the Indian stock markets and investors should be ready for 10000-11000 levels. Nifty might be rolling around between 3300 and 3800 levels”.
	On Tuesday, Wall Street ended the day calmly with some moderate losses as investors were boosted up by the government announcement regarding the $250 billion investment in the purchase of private bank’s stocks. Investors refocused their due attention on the stock market and were seen cashing in some gains from the massive previous day’s advancements in the indexes. Among the last nine sessions at the Dow, it was the first instance that the Dow Jones industrial average didn’t ended up with triple digit gains or losses despite of its 700 point range swing. The Dow index closed the day with only 76 points down from the previous day’s close.