MARKET CLOSING UPDATE FOR 29 SEPTEMBER
Stocks fell across the globe on persistent questions on the
effectiveness of the US bailout package and on continued
instability in the global banking sector. The domestic market fell
for the third consecutive trading session with Sensex declining
1,096.77 points in last three sessions. The barometer index today
ended 506.43 points down. The market recovered after witnessing
a sharp intra-day fall. TheBSE Sensex recovered close to 200
points from the day's low. Thebarometer index hit 1-½ year low
and the S&P CNX Nifty hit itslowest level in 17 months in
mid-afternoon trade. The marketbreadth was extremely weak
as selling was witnessed across theboard. ICICI Bank fell more
than 12%. The US lawmakers agreeing on a $700 billion bank-rescue
package andthe House of Representatives approving the nuclear
deal with Indiaover the weekend failed to boost the investor sentiments.