UPDATE AT 11AM ON 0CTOBER 8
The key benchmark indices slumped to their lowest level
in morethan two years on fresh setback in global markets
caused by growingcredit market worries. The BSE 30-share
Sensex was down 599.96points. The barometer index fell close
to 700 points at intradaylow. Reliance Industries (RIL) hit
fresh 52-week low. Among thesectoral indices capital goods
and IT stocks were the key losers.Sterlite Industries fell more
than 12% and Satyam Computer Serviceswas down more than
10%. Key benchmark indices in Asia were down by between 3.08%
to 6.63%today, 8 October 2008, even as central banks across Asia
stepped upto offer more support to commercial banks to try to ease
painfulpressure on funding costs from a vicious global credit squeeze.
At 10:23 IST, the BSE 30-share Sensex was down 599.96 points or
5.13% to 11,095.68. The index slipped 687.04 points at the day'slow
of 11,008.20, its lowest level since 9 August 2006. The Sensexfell
379 points at day's high of 11,316.24, in early trade. The S&P CNX
Nifty was down 177.70 points or 4.93% to 3,428.90. Theindex hit
a low of 3,405.80 its lowest since 13 September 2006. The BSE
Mid-Cap index was down 5.4% at 4,027.10 underperforming the
Sensex. The BSE Small-Cap index was down 4.23% at 4,765.92
outperforming the Sensex. The market breadth was extremely
weak. On BSE, 168 shares advancedas compared to 1,360 that
declined. 19 shares remained unchanged.