Sensex down by 445 points
Mumbai,
Sep
26:
Bombay
Stock
Exchange
benchmark
Sensex
on
Friday
Sep
26
shed
hefty
over
440
points
to
its
over
two-month
low,
its
NSE
counterpart
Nifty
closed
closed
below
4,000
mark
for
the
first
time
in
more
than
two
months.
Marketmen
said
investor
sentiment
got
a
further
blow
after
US
regulators
seized
the
119-year-old
Washington
Mutual,
second
largest
savings
and
loan
institution
in
US,
and
sold
banking
operations
to
JPMorgan
Chase
for
1.9
billlion
dollars.
On
BSE,
the
30-share
Sensex
closed
the
day
at
over
two-month
low
of
13,102.18,
a
loss
of
445
points,
or
3.28
per
cent,
from
its
last
close.
The
broader
50-share
Nifty
of
the
National
Stock
Exchange
also
tumbled
by
125.30
points
or
3.05
per
cent
to
close
at
3,985.25,
a
level
last
seen
on
July
16.
They said the failure of Washington Mutal, popularly knows as WaMu, added further to the deep worries of financial upheaval deepening even as US administration continued to debate on 700 billion-dollar rescue package, on which investors globally have pinned their hopes.
Asian and European indices plunged, which analysts attributed to political squabbling blocking a potential deal on a bailout package for the shattered US financial system.
Among the main Asian indices, Japan's Nikkei 225 and Hong Kong's Hang Seng were trading in the red. In Europe, London Stock Exchange's FTSE 100 index was down nearly two per cent at 5,098.41 points in the afternoon trade.
Reacting sharply to the Thursday night's developments in the US, Japanese market declined with Nikkei 225 falling one per cent while Hang Seng slipped by 1.33 per cent.
OneIndia
News