Equities crashed in the early trades slumping over 7% as credit crisis deteriorated. The 30-share index, BSE Sensex opened with a loss of 696.09 points, at 10,632.27 on Friday.
Asian stocks tumbled, driving Japan`s Nikkei 225 Stock Average down on concern the deepening credit crisis will push the global economy into recession
All the sectors were shattered.
Indian stock market belled the day on a negative terrain after a fall of 3.14% on the previous working day. In the previous day session, the Sensex closed with a loss of 366.88 points, or 3.14%, while the NSE Nifty declined by 92.95 points, or 2.58%.
Currently, the 30-share index Sensex is trading down 822.90 points, or 7.26%, at 10,505.46, after touching a high of 10,632.27 and a low of 10,239.76. Meanwhile the broad based Nifty is trading lower by 147.70 points, or 4.20%, at 3,365.95, after hitting a high of 3,502.05 and a low of 3,198.95. (10.14 a.m.)
Overall market breadth is negative. Out of the total 1599 stocks traded at BSE, 210 advanced, 1366 declined while 23. remained unchanged.
ICICI Bank (12.26%), Tata Steel (11.27%), Satyam Computer Services (10.09%), Reliance Communications (9.58%), HDFC Bank (9.46%), and Reliance Energy (9.14%) were the major losers in the Sensex.
Currently, there are no gainers at the 30-share index.
