A maturing market amid the mayhem
Sensex tanks on global economic worries
Selling pressure pulled the BSE Sensex below 14,000 on Wednesday as concerns over global economic recovery spooked financial markets all around.
Trade was volatile and the 30-share sensitive index touched an intra-day low of 13,701 before closing 401 points lower at 13,769. The fifty-share Nifty ended 2.93 percent down at 4,078.
The fall in the benchmark was led by L&T, ICICI Bank, Reliance Industries and HDFC Bank.
On the global front, Asian and European markets felt the selling heat as investors pulled funds out of bets on the global economic recovery.
Doubts about the strength of the global economy saw oil prices falling more that a dollar.
Do you think the Sensex fall is a sign of a downtrend setting in, or is it a correction that will see the benchmark scaling new heights?