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This is an archive article published on January 21, 2009

Sensex dips below 9,000 level

The Sensex closed below 9,000-level,the lowest level in more than one-and-a half month.

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Tumbling for the second straight day on Wednesday,the benchmark Sensex closed below 9,000-level,the lowest level in more than one-and-a half month,in tune with global stocks which declined,led by the Wall Street which posted more than four per cent losses overnight.

The 30-share BSE barometer dropped 321.38 points to end the day at 8,779.17,its lowest level since December 5,2008,with blue-chips in metal and banking counters suffering heavy losses.

The broader National Stock Exchange index Nifty also plunged by 90.45 points at 2,706.15,The index even lost psychological 2700 level during the day as 44 of the 50-share index closed lower.

Marketmen said a fall in heavyweight Reliance Industries stocks on fears of a fall in quarterly profits shattered the sentiment to some extent in last one-hour of trading.

They said a gloomy financial outlook of world8217;s major economies after fresh troubles in international banks weighed heavily on minds of investors. The Dow Jones Industrial Average declined 4 per cent.

 

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