|Photo: Piccadilly Financial Group Pty Ltd|
Tuesday, January 06, 2015
Sensex falls over 500 points; Nifty slips below 8250 as oil dips below $50/bbl
NEW DELHI, 6 Jan, 2015: The S&P BSE Sensex plunged as much as 512 points in trade on Tuesday following Asian markets, which were trading lower as investors are starting to worry that the prolonged slump is signaling a weaker global economy.
"That fear shook financial markets Monday as oil plunged again, dipping below $50 for the first time in more than five years. The drop prompted a big sell-off, not just among energy stocks, but across the entire stock market," AP reported.
Tracking the momentum, the 50-share Nifty index also cracked over 100 points to slip below its crucial psychological level of 8250, weighed down by losses in auto, banks, capital goods and IT stocks.
At 09:20 a.m.; the 30-share index was trading at 27,426.62, down 416 points or 1.49 per cent. It touched a high of 27698.93 and a low of 27,330.47 in trade today.
The Nifty was at 8259 down 119 points or 1.4 per cent. It touched a high of 8327.85 and a low of 8229.35 in trade today.
The S&P BSE Midcap Index was down 1.3 per cent and BSE S&P Smallcap Index edged lower by 1.1 per cent.
NTPC (up 0.2 per cent) and HUL (up 0.05 per cent) were among the major Sensex gainers.
Tata Motors (down 3.3 per cent), Sesa Sterlite (down 2.1 per cent), ONGC (down 2.2 per cent), Tata Power (down 1.9 per cent) and Infosys (down 1.8 per cent) were the major index losers.
Courtesy: The Economic Times