A maturing market amid the mayhem
Sensex falls 2.9 pct to lowest close in 3 years
The benchmark closed at 8198, dragged down by index heavyweights Reliance Industries (down 5 percent) and ITC (down 3.5 percent).
Ranbaxy and ICICI Bank were among the top Sensex losers, falling over 9 percent and 5 percent respectively.
The banking sector suffered the most with its index slipping 4.15 percent. Shares in Kotak Mahindra dropped 7.5 pct while SBI slipped 2.4 percent.
Satyam Computer Services, which was the most traded stock on the BSE, fell 7.5 percent to close at 35.1 rupees.
Though RBI’s rate cuts failed to lift investor sentiments today, do you think this move will help in the long run? Or more needs to be done to end this crisis of confidence?