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Sensex, Nifty ends 5% lower

This article was posted on Nov 5, 2008 and is filed under Market News

MUMBAI: Benchmarks ended sharply lower on Wednesday as selling emerged in frontline stocks. Reliance Industries was the worst hit after reports that the company shut five of its seven polyester and petrochemical units at Patalganga near Mumbai. Bombay Stock Exchange’s Sensex closed at 10,059.97, down 571.15 points or 5.22 per cent. The index touched a low of 10,051.52 in the day.

National Stock Exchange’s Nifty ended at 2976.75, down 5.26 per cent or 165.35 points. The index touched an intra-day low of 2971.

BSE Midcap Index ended 1.95 per cent lower and BSE Smallcap Index declined 1.98 per cent.

Reliance Industries, down 13.4 per cent, suffered the sharpest cut. Tata Steel (-10.69%), Reliance Communications (-10.66%), DLF (-9.46%), Jaiprakash Associates (-9.28%) and HDFC (-8.94%) were also badly beaten.

Wipro (2.11%) and Maruti Suzuki (0.08%) managed to end with gains.

Market breadth, which opened extremely strong, turned weak as profit booking set in. On BSE, 1571 declines outnumbered 993 advances.

(All the figures are provisional)

source: Economictimes

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