BSE Sensex major crashes 413 of 2006

Mumbai, June 13: The BSE sensex crashed by 413 points and closed lowest of 2006 at 9062.60 points on sustained heavy bull liquidation by FIIs and some domestic institutions investors, brokers said.

The bourses are headed down south at break-neck speed. A second straight day of vigorous selling brought the BSE Sensex to its lowest closing of 2006. The benchmark index ended with a loss of 413.50 points (4.36%), on 9,062.65.

The 30-share sensitive index plunging below the 9,000 mark, in the afternoon session of trade, to a low of 8,993.58, was like rubbing salt into investor-wounds. It had slipped below the 9,000 mark for the first time since 09 December 2005, fluctuating 366 points for the day.

The NSE Nifty lost 113.65 points (4.09 per cent), to 2,663.30 points during the end of session.

Equity markets across the world slipped on concerns of higher interest rate costs, which are expected to curtail corporate profits.

Asian markets boomeraged after a sell-off on Wall Street on concerns about another interest rate increase in the US.

The Nikkei share average plunged 4.14 per cent on Tuesday to book its biggest one-day percentage loss in two years as Advantest Corp., and other high-tech firms fell after drops in their US peers.

Concerns over price-competition sent flat-screen TV makers hurtling.

The Nikkei 225 index lost 614.41 points, to 14,218.60, the lowest close since 16 November 2005. It logged its largest one-day percentage loss since May 2004.

Hong Kong's Hang Seng index tumbled 387 points (2.48 per cent), on 15,234.42.

Back home, the total turnover on BSE amounted to Rs 2,691 crore.

The turnover remained sluggish, indicating a total lack of interest.

Investors are refraining from making fresh investments on account of volatility.

The market-breadth was down and out. Against 2,092 stocks that declined on BSE, only 264 rose. A mere 49 scrips were unchanged.

HDFC was the biggest loser, down 9.8 per cent (pc) to Rs 1,015.15, on 3.67 lakh shares. A block deal of 2 lakh shares was struck in the counter at Rs 1,050. Bajaj Auto lost 4.85 pc, to Rs 2,255, while Hero Honda lost 6.85 pc, to Rs 659. Tata Steel lost 9 pc to Rs 388.50. As many as 23.50 lakh shares changed hands in the counter on BSE.

Bhel declined 8.25 pc to Rs 1,599.95 while Wipro slipped 7.15 pc to Rs 391.40.

SBI was the only gainer, up 2.50 pc, to Rs 763.70 on 14.11 lakh shares. It staged a smart recovery from a low of Rs 715.20.

Heavyweight RIL shed 4.85 pc to Rs 859. As many as 31.43 lakh shares changed hands in the counter on BSE.

Reliance Petroleum (RPL) slipped to a new all-time low of Rs 58.70 on 30.70 lakh shares on profit-booking.

Recently listed, Unity Infrastructure slumped 17.2% to Rs 390.50 on 14.97 lakh shares while Deccan Aviation lost 14.42% to Rs 84.60 on 15.49 lakh shares, brokers added.

UNI