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Update at 1830 hrs (IST)


Markets
Sensex tumbles by 265 points

MUMBAI: The BSE benchmark Sensex on Friday tumbled by 265 points to close below 9,000-mark on heavy selling by funds in blue-chips led by the information technology, realty and metal segments. The Sensex closed at 8,965.20, down 264.55 points from yesterday's close of 9,229.75, as most of the heavy-weight stocks led by SAIL, BPCL, HDFC, Infosys, Tata Consultancy and Satyam Computers saw downward movement. As the market took a plunge, the Information Technology segment index suffered the most, slipping by 107.38 points or 4.36 per cent at 2,357.36 Apart from IT index, others such as Consumer Durable, Realty, Metal, Oil&Gas and Teck also turned weak on rene wed selling by traders. On the NSE, the S&P CNX Nifty was down by 73.60 points at 2,714.40 points. Marketmen said major players indulged in booking profits at existing higher levels. They said expectations of an interest rate cut and an industry assistance package had been factored into yesterday's 5.5 per cent surge. On the BSE, the number of losers was higher at 337 and gainers were lesser at 157. - PTI

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