By Nick Godt, MarketWatch
NEW YORK (MarketWatch) — Indian stocks fell on Tuesday as Japan’s Nikkei plunged after Prime Minister Naoto Kan said a “substantial amount” of radiation was leaking from the nuclear plant hit by Friday’s earthquake and tsunami.
The Sensex (XX:SENSEX 18,148, -290.99, -1.58%) slumped 194.38 points, or 1%, to 18,245.10. Among the biggest decliners were Maruti Suzuki India Ltd. (IN:532500 1,215, -44.30, -3.52%) , off 2.8%, Jaiprakash Associates Ltd. (IN:532532 81.00, -3.15, -3.74%) , off 2.6%, and Tata Power Co. Ltd. (IN:500400 1,208, -40.85, -3.27%) , off 2.4%.
The S&P CNX/Nifty Index (XX:NIFTY 5,461, -70.60, -1.28%) fell 1% to 5,467.85.
There were two more explosions Tuesday at the Fukushima Daiichi nuclear-power plant, at the No. 4 and No.2 reactors, with the latter leading to a sharp rise in radiation levels.
The Nikkei Stock Average (JP:NI225 8,605, -1,015, -10.55%) plunged more than 14% at one point. The benchmark later recovered slightly but still ended with its worst loss since 2008.
Asian markets slumped in unison but received a bit of a reprieve after Japanese media reported, citing Tokyo Electric Power Co., that the fire at reactor No. 4 had been put out. (JP:9501 1,221, -400.00, -24.68%) .
On the Bombay Stock Exchange, real estate, power and auto sectors fell the hardest. |
