Sensex loses 547 points, slips below 10,000 mark

Just in: Sensex lost 547 points and slipped below 10,000 points at 9,988 mark. Nifty tumbled 152 points and was quoted at 2,995.
1:42 PM 11/11/2008

Mumbai, Nov 11: After Monday, Nov 10 gain, markets opened low on Tuesday, Nov 11. Bombay Stock Exchange"s 30-share Sensex lost 150 points to 10,386 from Monday"s close. National Stock Exchange"s benchmark Nifty fell 35 points to 3,112. Asian markets are mixed, after recovering from lows of the day. US markets too dropeed, which has impacted the Indian markets.

According to an Economic Times report, a safe strategy would be to get into the market again only if it closes above the 3250 mark. Monday's excitement over a massive Chinese economic stimulus package gave way to gloom after Deutsche Bank lowered its view on the equity value of General Motors to zero, sending its shares to 62-year lows, and analysts warned that Goldman Sachs could post a quarterly loss for the first time in its history.

Asian markets were trading lower with the Nikkei down 2 per cent, Topix falling 2.66 per cent, Hang Seng losing 0.6 per cent and Straits Times shedding 1.78 per cent.
10:12 AM 11/11/2008

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