Sensex plunges below 9,000 mark

The Bombay Stock Exchange benchmark Sensex on Friday fell by over 260 points as investors treaded a cautious path ahead of unwinding of a package by the Centre to stimulate the economy in the wake of global downturn Brokers said expectations of interest rate coming down and positive aspects of the economic package, to be announced tomorrow, have already been factored in yesterday’s trading.

Failing to sustain Thursday’s 482-point gain, the BSE barometer closed at 8,965.20 points, down by 264.55 points, on brisk selling in blue-chips mainly in consumer durables, IT and realty counters.

Gloomy outlook key US and European markets continued to impact the investor sentiment which was reflected in IT stocks, marketmen said

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National Stock Exchange index Nifty also fell by 73.60 points at 2714.40.

As the market tumbled, many a heavyweight scrip closed lower. Jaiprakash Associates was the biggest loser at 6.62 per cent, followed by country largest software exporter TCS LtD at 5.10 per cent.