Business News
Indian markets fall nearly 3 per cent on global cues
Jul 8, 2009, 12:13 GMT
New Delhi - Indian markets fell almost 3 per cent on Wednesday and the benchmark Sensex hit a six-week low on negative global cues and profit-taking by investors.
The 30-share index of the Bombay Stock Exchange closed down 401.30 points, or 2.83, per cent at 13,769.15, after touching the day's lowest of 13,701.76 - a level last seen on May 21.
The key index slipped with losses in metal, realty, infrastructure and banking stocks.
The broader 50-share S&P CNX Nifty of the National Stock Exchange was quoted at 4,078.90, a loss of 2.93 per cent.
Brokers said selling pressures intensified on weakening global stock market trends.
The markets turned bearish after India's deficit budget was announced on Monday, as the Sensex recorded the biggest fall of the year, plummeting 869.95 points or 5.83 per cent.
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