EU debt crisis drags Sensex down to a three-month low

The global fiscal crisis continued to cast a shadow on Indian bourses even after stern measures announced by debt-ridden Spain last week. Germany, Europe’s largest economy, also banned some naked short sales of certain securities to curb excessive price movements to stabilise financial system. Despite these, with markets showing worries over financial regulation and about the sustainability of global economic recovery, selling was across-the-board, as all sectoral indices ended in the red.

Sensex of the Bombay Stock Exchange (BSE) fell 3.23 per cent or 548.99 points to end at 16,445.61 points Friday. The broader S&P CNX Nifty of the National Stock Exchange (NSE) too ended the week at 5,304.1 points, down 162.35 points or 3.18 per cent.     
Agencies