Sensex registers biggest-ever fall, tumbles by 1,408.35 pts

Mumbai, Jan 21 (UNI) The Bombay Stock Exchange (BSE) sensitive index today plunged sharply by 1,408.35 points or 7.41 per cent in the biggest ever single-day fall to close at 17,605.35 on extended selling pressure across the sector, triggered by a global setback.

Nifty tumbled by 8.7 per cent, BSE mid-cap slid by 11.38 per cent and Small-cap dipped by 10.27 per cent, registering a record single-day fall.

Resuming the day on a negative note at 18,919.57 from its previous close of 19,013.70, the benchmark Sensex nosedived by 692 points on heavy profit booking. It slightly recovered in the afternoon, but soon afterwards the Sensex hit the day's low at 16,951.50 shedding 2062.20 points following weak performance in the Asian markets on worries over US economy heading towards recession.

The previous biggest single day point fall was recorded on May 18 2006 when it plunged by 826 points or 6.75 pc to close at 11,391.

The Sensex has plunged 3601.42 points or 16.98 per cent from a record high of 21,206.77 on January 10, 2008.

Similarly, National Stock Exchange's Nifty index dipped 732.20 poits to hit a day's low at 4,977.10 from its previous close of 5,705.30, before finally closing at a loss of 496 points at 5,208.80 in late trade.

The market extended losses for sixth straight day due to setback in markets across the globe. Selling by foreign institutional investors and margin calls after a proposed US stimulus package failed to break-up the fears over US economy recession.

All the major indices in the Indian equity market witnessed a steep single day fall, brokers said.

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