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Sensex plunges 546 points on profit booking

Posted by on February 24, 2011 0 Comment

Mumbai, Feb 24 (IANS) A benchmark index of Indian equities markets slumped over three percent Thursday as investors booked profits on concerns that the government might take some firm steps in the union budget next week to control soaring inflation.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,135.12 points, closed at 17,632.41 points, down three percent or 545.92 points from its previous close at 18,178.33 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange fell 3.21 percent to close at 5,262.70 points.

Selling pressure was across the board. In the broader markets, the BSE midcap index fell 2.69 percent and the BSE small cap index shut shop 2.60 percent down.

All the sectoral indices closed deep in the red. The BSE Bankex and the consumer durables indices tumbled nearly four percent.

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