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Sensex crashes, Nifty hits 15-month low

This article was posted on Aug 18, 2011 and is filed under Market News

After a few days of relative calm, Indian equity benchmarks closed with enormous cuts, with the NSE Nifty closing below 5000 for the first-time since June 2010, nearly 15-month low. It was a complete free-fall on the Dalal Street on Wednesday, dented by the fears about recovery in the European and US economies after debt crisis.

The 50-share NSE Nifty touched new 52-week intra-day low of 4,932.15, before closing down 112 points at 4,944. The 30-share BSE Sensex fell 371 points, to end at 16,469.79.

On the global front, European markets like France’s CAC, Germany’s DAX, Britain’s FTSE were down 2-3.5 per cent. The Dow Jones futures tumbled 173 points. Major Asian markets like Hang Seng, Shanghai and Nikkei closed down 1-1.6 per cent. For more visit: IBN Live.com

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