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Rediff.com  » Business » Market crash: 350 stocks hit an all-time low

Market crash: 350 stocks hit an all-time low

October 24, 2008 17:12 IST

Signalling what could be a dark Diwali on Dalal Street, as many as 350 securities hit their all-time lows on Friday as the Sensex crashed by about 1,100 points and dipped below the 9,000 mark for the first time in about three years.

Making the things worse, those hitting their record low share prices included big names like Reliance Power, Cipla, Ranbaxy, Ambuja Cement, Hindalco, Indian Hotels, Jaiprakash Associates, Jet Airways, Suzlon Energy and Idea Cellular. Realty majors DLF Ltd, Unitech, Parsvnath, Sobha Developers, Omaxe and Puravankara also plunged to their all-time lows.

There were also new listings such as REC, Gammon Infra, Titagarh Wagon, V-Guard, Anu's Lab, KSK Energy, 20 Microns, Birla Cotsyn, OnMobile, IRB Infra, Aishwarya Telecom, Kiri Dyes and 20 Microns in this category.

Other big names plunging to their record lows included Central Bank, Power Grid, PFC, Edelweiss Capital, Future Capital, Biocon and Patni Computer, GMR Infra, Tech Mahindra, Mahindra Forging and Lanco Infra.

The Sensex settled 1,070.63 points down at 8,771.70 points on Friday -- registering its second biggest single day fall ever. There were as many as 2,322 stocks ending in the red, accounting for close to 90 per cent of all actively traded stocks. Besides, as many as 640 stocks hit their lower circuit filters -- signalling there were no buyers for these stocks.

Other stocks that recorded new lows today were Amara Raja, Balrampur Chini, Dalmia Cement, Essel Propack, Kinetic Engineering, LML Ltd, Madras Cement, Mirc Electronics, Nirma, Punjab Tractors, Apollo Tyre, Kinetic Motor, Rico Auto, Sona

Koyo, Hexaware, JK Paper, Wockhardt and TVS Electronic. A number of companies from media and entertainment space, such as Deccan Chronicle, HT Media, Jagran Prakashan, IBN 18, Mid-Day Multimedia, Cyber Media, PVR Ltd, Pyramid Saimira, Inox Leisure, Wire & Wireless, Dish TV and ENT Network were also in this league.

Others recording their lowest share price levels included Bharati Shipping, JK Cement, Shopper Stop, IL&FS Investmart, Indo Asian Fusegear, Renuka Sugar, GVK Power and

Infra, KEC International, Uttam Sugar, Emkay Global, Unity Infra, Allcargo Global, Mahindra Forging, Lanco Infra, ICRA, NIIT Ltd, EIH Ltd, Gitanjali Gems, Shares of JK Sugar, Lumax Auto and India Infoline.
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