Sensex resumes below 14,000 barrier, down by 334 pts

Mumbai, Sep 15 (UNI) The benchmark Sensex today resumed below 14,000 barrier and touched a new low at 13,666.28 points, with a massive loss of 334.53 points, from its previoush close of 14,000.81 on sustained heavy selling by local operators in view of weak advices from global markets.

Brokers said key benchmark indices witnessed a disastrous opening, spooked by reports that the Bank of America struck a USD 50 billion deal to buy US investment banking major Merrill Lynch.

The BSE 30-share Sensex was down 643.32 points. Meanwhile, reports just filtered in indicated that US investment bank Lehman Brothers is filing for Chapter 11 bankruptcy.

Index heavyweight Reliance Industries (RIL) plunged to 52-week low below Rs 1,900. IT pivotals were the worst hit in the early slide, with Satyam Computer Services plunging over 10 per cent. All the 30-members from the Sensex pack suffered losses.

Asian markets were trading lower today, as select benchmark indices in Taiwan and Singapore fell 4.32 pc and 3.18 pc respectively. Most major Asian equity markets were closed for public holidays.

Later, the BSE 30-share Sensex was down 760.45 points, or 5.43 pc, to 13,240.36. It recorded the day's low of 13,228.19 in early trade.

The S &P CNX Nifty index of National Stock Exchange (NSE), however, resumed high at 4,231.95 points from it last close of 4,228.45.

Later, it recorded the day's high and low at 4,237.25 and 3,982.30 points respectively during the mid-session.

IT pivotals tumbled. India's fourth largest software services exporter Satyam Computer Services plunged 10.37 pc to Rs 364.60. It was the top loser from Sensex pack.

Among others, Wipro was down 6.67 pc to Rs 391.75, Infosys down 4.01 pc to Rs 1,578 and TCS edged lower by 7.07 pc to Rs 751.50.

Reliance Industries slumped 4.02 pc to Rs 1,852.90. The stock hit a 52-week low of Rs 1,833.25 in early trade. ICICI Bank slipped 6.72 pc to Rs 609. State Bank of India fell 4.36 pc to Rs 1,446.60 UNI AR/NV SSS AG1134