The local market remained troubled in late trades as there was no halt to the selling pressure. Weak opening by the European indices and sustained weakness in the Asian markets forced investors to stay away from stock markets. Realty, banking and IT stocks were worst hit. The 30-share BSE Sensex was down 372.29 points or 3.97% at 8,998.20. The index touched a high and a low of 9,123.78 and 8,946.62, respectively. The broader S&P CNX Nifty was down 3.54% at 2735.05. The index touched a high and a low of 2832.30 and 2701.75, respectively.
Offloading became evident across global markets today following US retail sales figures slipped more than expected. Similarly, Nortel filing for bankruptcy gave an indication that worst of the global economic slump is yet to be seen.
Jaiprakash Associates down 9.24%, ICICI Bank down 8.75%, Sterlite Industries down 7.43%, Tata Steel down 7.12% and RCom down 6.61% were the main losers on the benchmark.