Sensex tanks 337 pts
GK NEWS NETWORK
Mumbai, June 7: The BSE benchmark Sensex today tanked 337 points, mirroring sharp decline in world markets that were shaken by fears of widening financial crisis in Europe and fragile economic recovery in the US, besides a rush of public offers at home.
The 30-share barometer of the Bombay Stock Exchange ended its three-day gain and settled lower by 336.62 points, or 1.97 per cent, at 16,781.07 points.
Analysts had on Friday forecast a plunge in the market following the government's decision to make 25 per cent public holding in listed companies mandatory, which would result in a flood of public offers that would lead to stock price correction.
The markets did open down, but on negative global cues and remained weak for the entire session. During the day, the bellwether sank 431 points to hit a low of 16,686.73.
Lastupdate on : Mon, 7 Jun 2010 21:30:00 Makkah time
Lastupdate on : Mon, 7 Jun 2010 18:30:00 GMT
Lastupdate on : Tue, 8 Jun 2010 00:00:00 IST
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