Stocks suffered heavy losses in opening trade again. The Bombay Stock Exchange (BSE) dropped down below 34,000 mark by shedding around 564 points while Nifty fell down over 1.6%. This is said to have happened on a widespread sell off triggered by a rout in global equity markets. Most of the sectoral indices led by Bankex, Teck and Information Technology (IT) plunged into the negative zone with losses of up to 1.76%.
Other Asian markets tumbled up to 4.24% after the Dow Jones index also routed for the second time this week. Industrial Credit and Investment Corporation of India (ICICI) Bank dropped the most by 2.75% followed by Imperial Tobacco Company (ITC) dropping down 1.9%. Housing Development Finance Corporation (HDFC) fell down 1.85% while Axis Bank tumbled 1.66% and Larsen and Toubro tumbled 1.6%.
It is said Infosys, Tata Consultancy Services (TCS,) Reliance, Kotak Bank, State Bank of India (SBI,) Indus Ind Bank, Hindustan Unilever, Bharathi Airtel also dropped down up to 1.5%.
