Sensex crashes by 511.11 points

Mumbai, Nov 5: After the bullish trend in the last five sessions, the Sensex tumbled on the Bombay Stock Exchange on Wednesday, Nov 5 by 511.11 points and ended in red at 10,120.01 due to weak global markets.

The Nifty index of National Stock Exchange (NSE) was quoted below 3100 barrier and nosedived by 147.15 points to settle at 2994.95 from it last close of 3142.10. It was a crucial day for the markets on account of heavy sell off in heavyweights and weak global markets. The benchmark indices broke the five days winning streak and tumbled nearly 5 per cent. Huge beaten down sectors were oil, metal, realty, capital goods and telecom. Reliance Industries, HDFC, L&T, Bharti Airtel, Reliance Communication, SAIL and Tata Steel were responsible for Wednesday, Nov 5 fall, a leading broker said.

The Sensex touched an intraday low of 10,051.52, before closing the day at 10,120.01, down 511.11 points or 4.81 per cent over the previous close. The Nifty index recorded the day's high at 3240.55 and a low at 2971.00 points.

European markets were trading sharply lower. FTSE, CAC and DAX plunged 2.5-3 pc. Poor outlook projected by heavyweights led to profit booking and selloff.

The profit of France's largest bank, BNP Paribas has declined by 56 pc on account of bad loan provisioning in third quarter.

IT stocks were mixed amid a strong Rupee and on worries the US outsourcing business will be curtailed after Obama won the US presidential election. India's third largest IT exporter by sales Satyam Computer Services rose 0.27 per cent even as American depository receipt (ADR) fell 0.83 pc overnight.

BSE clocked a turnover of Rs 4,973 crore today as compared to a turnover of Rs 4,431.22 on the previous day, brokers added.

UNI