Mumbai, May 15
The bottom fell out of the country’s stock market, whose benchmark Sensex lost 463 points today, as there was a rush of selling by investors following a meltdown in metal prices as also key global markets.The fall, the third largest in the history of the Bombay Stock Exchange (BSE), took the market bellwether to a one month low of 11,822.20 points and evoked memories of “black Monday”.
The Sensex had registered the biggest-ever fall of 570 points on April 28, 1992, which happened to be a Monday.
It fell by 565 points, its second biggest fall, on May 17, 2004, also on a Monday.
The 30-share Sensitive Index (Sensex) crumpled to the day’s low of 11,770.76 before ending the day at 11,822.20 from Friday’s close of 12,285.11, a fall of 462.91 points or 3.77 per cent.
The index has adjusted to a downward correction by a huge 790 points in the three consecutive trading sessions.
The National Stock Exchange’s (NSE) S&P CNX Nifty also nosedived by 147.10 points or 4.03 per cent to close at 3,502.95 from last weekend’s close of 3,650.05.
The fall comes on the eve of a few big IPOs like DLF and Air Deccan.
