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Indian equities sink on worries over Japan disaster

Posted by on March 15, 2011 0 Comment

Mumbai, March 15 (IANS) Indian equities took a major hit Tuesday on worries over the fallout of the devastating earthquake in Japan that has led to explosions at three nuclear reactors.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 18,113.79 points against the previous day’s close at 18,439.48 points and sank further to 17,952.60 points.

Some 10 minutes into trading, the key index was ruling at 18,015.49 points with a loss of 423.99 points or 2.30 percent.

Radiation levels have spiked after a blast at a reactor in a quake-damaged nuclear power plant in northeastern Japan.

Friday’s magnitude-9 earthquake caused the cooling systems of three reactors at Fukushima nuclear plant to fail.

Worries over a possible rate hike by India’s central bank following marginal increase in domestic inflation in February also dampened market sentiments.

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