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Thursday, 24 November 2011

Sensex, Nifty crash to 52-week low amid global weakness

India's benchmark indices crashed over 2 per cent and have hit new 52-week lows as selling pressure gathered momentum on the bourses. A slowdown in economic growth in the US, which is the world's biggest economy, led to risk aversion across the globe.

At 1208 hours, the Sensex was down 360 points to 15,705 while the broader Nifty index declined 105 points to 4,707. The Nifty has broken the previous low of 4,720 made on 26 August this year.

Barring Cipla and Sun Pharm, all other Sensex stocks were trading lower. Similarly, only five stocks were trading higher on the Nifty.

Among large cap stocks government oil major ONGC, India's largest PSU bank SBI, private sector lender ICICI Bank and Axis Bank made new lows today.

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