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Panic selling hits bourses, Sensex plummets 361 points

The Bombay Stock Exchange's sensitive index, Sensex, plummeted by 361 points due to panic selling at the bourses, in afternoon trade today.

The National Stock Exchange's Nifty too fell sharply by 108 points. Almost all software stocks opened at the lower circuit, and remain there. Old economy stocks too felt the heat and dipped sharply, in what is being described as one of the worst day in Indian stock market history.

The Sensex opened at 4907.41 points, against its previous close at 5053 points. It went on to touch the day's high of 4907.41 points, only to dip to 4667 points. It was ruling at 4692 points at 1.00 pm (IST).

The Nifty opened at 1534 points, against its previous close of 1535 points. It touched a day's high of 1554 points, and plummeted to 1430 points. At 1.00 pm (IST), it was ruling at 1427 points.

Stocks that dipped by 8 per cent included Zee Tele, Sterlite, Infosys, Wipro, Satyam Computer, PentaMedia, HCL Info, VSNL, Tata Elxsi, Essel Packaging, Siemens, Silverline, NIIT, Global Tele, Rolta, Himachal Futuristic, DSQ Soft, Aptech, Padmini Poly, Surana Tele, ITI, UTI Bank, Hughes Soft, Shasun Chem, Nirma, GV Films and Reliance Capital.

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