Sensex closes below 26000, sheds 350 pts

ECONOMY ANALYSIS

•  Sensex closes below 26000, sheds 350 pts; Hindalco down 6%

•  Equity MFs receive Rs 34,000 cr in Apr-Sept

•  TCS Q2 profit seen up 5%, dollar revenue may grow over 7%

•  World markets on edge after worst turmoil in four years

•  IL&FS Engineering soars 20% on big order in Bihar from NHAI

•  Growth woes overdone; see 1-2% daily swings in US mkt: NAB

MARKET ANALYSIS

 

 

• Weakness in the US markets pushed the 50-share Nifty index below its crucial psychological support level of 7800 and Sensex below 26000 on Thursday, led by a sell-off in European markets.

• The 50-share Nifty index plunged over 100 points in the last half-an-hour of trade, while the BSE Sensex suffered losses of over 300 points in trade today.

• The sell-off was more severe in the S&P BSE Sensex as the index slipped below its crucial psychological level of 26000. The index fell as much as 416 points in trade, led by losses in RIL, HDFC, HDFC Bank, and M&M.

• The 30-share index finally closed at 25999.34, down 349.99 points or 1.33 per cent. It touched a high of 26,462.08 and a low of 25933.98 in trade today.

• The Nifty ended at 7,748, down 115.80 points or 1.47 per cent. It touched a high of 7,893.90 and a low of 7,729.65 in trade today.