Sensex down and out; sheds 461 pts

Mumbai, June 8 (UNI) Taking its cue from the weak global markets, Sensex suffered strong blows at the hands of the investors and shed 461 points to close at 9295.81 points compared to the previous close of 9756.76.

All the major global markets closed in the red. Nasdaq, Dow Jones, NYSE and Nikkei all witnessed a meltdown and tapered at the end. Nikkei suffered heaviest losses to close down by 3.3 per cent.

However, the experts feel the markets will stabilise soon at around 8000-8800 level.

Even after witnessing heavy selling the FIIs net purchase of Rs 733 million, puts India ahead of other emerging markets in the current scenario, and inspires hope for bulls to emerge soon.

Experts have also put lots of hope on the monsoon, expecting if the monsoon are normal, thing in the consumer durables, agricultural and farm sector will bring back the bulls to the market.

All the sectoral indices on BSE closed in red. Led by Midcap sector which was down by 8.21 per cent, other indices like smallcap, PSU, Auto and Metals declined between 4.0 to 9.0 per cent.

Similarly CNX Nifty was also down by 4.76 per cent or 146 points to 2724.35 points from the previous close of 2860.45 points.

The scrips to have gained on the BSE index were MTNL which was up by 0.14 per cent to Rs 143.10 and Shipping Corporation up by 0.08 per cent to Rs 127.05.

Besides, the losers on the BSE were - Bajaj Auto, Tata Power, Tata Steel, Reliance Industries, HLL, Bharti Televentures, Dr Reddy's lab, Reliance Energy, Ranbaxy and Cipla, all of them were down by 6.17 to 8.43 per cent.

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