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Onions, Sensex plunge
Shiv Kumar /Tribune News Service

Mumbai, March 5
The onion prices fell sharply today with fresh arrivals flooding the Nashik agricultural markets, the country's biggest trading centre of the bulb. Inquiries from the Nashik markets revealed that the fields had yielded a bumper later winter crop and the prices would soon plunge to new lows.

The wholesale price at the Nashik agricultural market touched Rs 375 per quintal. Retailers in and around this town began to price onions around Rs 7 from this morning itself.

With the onion prices touching Rs 16 in Mumbai last month, the government had banned its export to bring down prices.

With Nashik reporting bumper crops this season Maharashtra is expected to flood the markets in the coming weeks. The state accounts for 30 per cent of the country's onion crop.

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471-point fall
Tribune News Service

Mumbai, March 5
Continued bear hammering on the back of weakness in bourses worldwide caused the BSE Sensex to plunge 471 points to close at 12,415.

Sensex touched a low of 12,344 during intra-day deals before recovering marginally. In the broader markets, Nifty shed 4.2 per cent to close at around 3,573.

Among the biggest losers today were Ranbaxy, Dr Reddy's and Maruti Udyog which fell by more than 6 per cent each. 

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