The barometer index, Sensex, restricted losses to 336 points to close at 18,715.82 although it dipped to the day’s low of 17,307.90 as nervous investors resorted to selling fearing that the regulator would ban PNs, a derivative instrument issued by FIIs to unregistered foreign investors. The market lost 1,743.96 points or 9.15 per cent at the start of trade, prompting BSE and NSE to suspend trading for an hour. However, the stock staged a recovery once trading resumed at 10:55 hrs, helped by reassuring statements from Finance Minister P Chidambaram and Sebi Chairman M Damodaran.
The NSE’s broader S&P CNX Nifty dipped to a day’s low of 5,107.30 but recovered by 108.75 points or 1.92 per cent lower at 5,559.30 from previous 5,668.05.
