JOIN USDalal Street witnessed huge sell-off in afternoon trade following Germany’s move on naked shorting. The bellwether index of BSE hit its lowest level in 2-1/2 months, while S&P CNX Nifty fell below the psychological 5,000 level on Wednesday.
Sensex at BSE fell 467.27 points or 2.77 per cent to close at 16,408.49 points, its lowest closing since February 25, 2010. The broader based S&P CNX Nifty at NSE declined 146.55 points or 2.89 per cent to settle at 4,919.65 points in the closing, its lowest closing since February 25. Foreign funds were also offloading Indian stocks. As per data obtained, foreign institutional investors (FIIs) sold shares worth Rs 439.70 crore and domestic funds bought shares worth Rs 326.61 crore on Tuesday. Cumulatively, FIIs have sold shares worth net Rs 6326.62 crore this month, till Tuesday last.
The market breadth was weak. The combined markets turnover of BSE and NSE stood at Rs 1,56,397.77 crore from both cash segment and futures & options.