NW: Sensex nosedives by 274 points in opening session
Mumbai, Dec 12 : The key benchmark Sensex of the Bombay Stock Exchange (BSE) today tumbled by 274.59 points to 9,370.87, compared with its last finish of 9,645.46, on sustained heavy selling pressure by bear operators in view of bearish phase in Asian markets.
Similarly, the Nifty index of National Stock Exchange (NSE) also opened in red by 4.80 points to 2,915.35 against its previous close of 2,920.15.
The BSE 30-share Sensex is at present still down by 272.59 points to 9,372.87. It recorded the day's low at 9,281.89 and high at 9,394.78 in early trade. The Nifty is also quoted down by 81.00 points at 2,839.15. It registered the day's high and low at 2,917.95 and 2,812.55 points respectively.
Key benchmark indices saw a gap-down opening amid weak global cues on worries over the fate of the US auto industry bailout plan.
However it recouped some losses in volatile early trade. All the 30-members from the Sensex pack were in the red. Reliance Industries (RIL) and Reliance Natural Resources (RNRL) were in spotlight after the government yesterday withdrew the affidavit it had filed in the Bombay High Court in the RIL-RNRL gas dispute case, a leading broker said.
Volatility may remain high ahead of the index of industrial production data for October 2008 scheduled to be announced later during the day. Asian markets were trading weak today on worries over the fate of the US auto industry bailout plan and a retreat in the global banking shares, while lower oil prices pressured commodity counters. Key benchmark indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan were down by between 1.69 per cent and 7.16 pc.
The top heavyweight shares were in the red. Tata Motors declined by 5.05 pc to Rs 152.45, followed by Jaiprakash Asso by 4.53 pc to Rs 79, Sterlite by 4.42 pc to Rs 282, Wipro by 4.40 pc to Rs 239, DLF Ltd by 4.40 pc to Rs 245.35, M&M by 4.12 pc to Rs 274.50, ICICI Bank by 3.90 pc to Rs 390.40, Tata Steel by 3.86 pc to Rs 209.45, L&T by 3.70 pc to Rs 752.80, REL COM by 3.51 pc to Rs 230.80, TCS Ltd by 3.43 pc to Rs 490.25, ONGC by 3.32 pc to Rs 642.85, REL INFRA by 3.31 pc to Rs 584.50, Maruti Suzuki by 3.31 pc to Rs 493.50 and SBI by 3.12 pc to Rs 1160.80.
