Sensex lost 642 points or 4.28% to settle at 14,358. Asian stocks tumbled on Thursday, 16 August 2007, as persistent fears about a global credit squeeze sapped investor appetite for risky assets.
BSE metal index bore the highest brunt amongst the sectoral indices in the market mayhem today. It fell 6.51% or 717 points to 10,299. It touched a high of 10,690 and low of 10,273 during the day.
Tata steel (down 10.34% to Rs 575.35), Sterlite Industries (down 8.22% to Rs 558.40) and Hindalco Industries (5.62% to Rs 145.30) declined sharply from the metal pack. Tata steel, Sterlite Industries and Hindalco Industries haveeightages of 27.51%, 17.73% and 13.99% respectively in BSE Metal index.
BSE Metal Index had declined 8.89% over the last one month to 14 August 2007 compared to the Sensex's fall of 2.03%. It had outperformed the market over the past quarter, rising 6.70% compared to the Sensex's gain of 6.18%.
BSE Realty index was the second worst performer today as it slumped 5.56% or 410 points to 6980.08.
Realty majors Unitech (down 8.06% to Rs 466.40), Indiabulls Real Estate (down 6.23% to Rs 458.95) and DLF (3.19% to Rs 584.05), edged lower.
The third biggest fall was seen in Bankex which lost 5.42% or 424 points to 7,421.
Banking heavyweights ICICI bank (down 5.17% to Rs 832.30), State Bank Of India (down 5.78% to Rs 1521.60) and HDFC Bank (4.62% to Rs 1094).
ICICI bank, State Bank Of India, and HDFC Bank have weightages of 41.03%, 16.74% and 13.4% respectively in Bankex.
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