Sensex tumbles by 726.85 points

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Mumbai, Mar 31: The benchmark sensitive index of Bombay Stock Exchange today tumbled by 726.85 points to close at 15,644.44 even as Nifty was down 207.50 points to end the session at 4,734.50 on sustained selling pressure across the sector on weak global cues.

Sensex had nosedived over 808 points to hit a day's low at 15,563.15 from its previous close of 16,371.29 in late trade on extended profit booking interest as investors were selling the scrips at higher rates, acheived due to gains last week, brokers said.

Meanwhile, the broader based S&P CNX Nifty index of National Stock Exchange plunged 238.15 points or 4.8 per cent at day's low of 4,703.85 in late trade, before finally closing at a loss of 4.20 per cent.

Negative cues from global markets also dampened market sentiments, which prevailed throughout the day. In addition, the reports that the Institute of Chartered Accountants of India (ICAI) has asked companies to disclose losses on a market-to-market basis incurred due to derivatives trades from the current financial year ending March 2008, has risen worries that the companies would post lower growth in the last quarter, marketmen observed.

Mid and Small caps on BSE ended in red with a negative gap of nearly one to 1.5 per cent. Moreover, all the sectoral indices were in red today and bankex, IT and realty index dropped 5.89, 5.60 and 5.39 per cent respectively. Indiabulls, Reliance Capital, HDFC and ICICI bank were the worst hit today.

However, despite a sharp fall, the market breadth remained positive as 1,356 scrips advanced against 1,302 that declined and 45 scrips remained unchanged. The total turnover amounted to Rs 5912 crore on BSE.

Total turnover in NSE's futures&options segment amounted to Rs 47200.87 crore as compared to Rs 49087.03 crore on Friday. Index heavyweights, Housing Development Finance Corporation slumped 8.79 pc to Rs 2383.75 on 2.74 lakh shares. HDIL declined 8.68pc at Rs 658.70, ICICI Bank was down 7.79 pc to Rs 770.10, Bank of India by 7.11 pc at Rs 252.90 and DLF slipped 7.07 pc at Rs 646.50.

Reliance Industries lost 4.11 pc to Rs 2251 on 11.24 lakh shares.

The stock moved in a range of Rs 2251 and Rs 2340 during the day.

IT pivotals were hit on strenthening Indian currency against the greenback and worries over US recession.

Infosys Technologies was down 6.31 pc to Rs 1429, Satyam Computers by 3.42 pc to Rs 394.50, Wipro by 8.59 pc to Rs 415 and TCS dipped 7.94 pc to Rs 801.


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