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Market crash: 350 stocks hit an all-time low
 
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October 24, 2008 17:12 IST

Signalling what could be a dark Diwali on Dalal Street [Get Quote], 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 [Get Quote] Power, Cipla, Ranbaxy [Get Quote], Ambuja Cement [Get Quote], Hindalco [Get Quote], Indian Hotels, Jaiprakash Associates [Get Quote], Jet Airways [Get Quote], Suzlon Energy [Get Quote] and Idea Cellular [Get Quote]. Realty majors DLF Ltd, Unitech, Parsvnath, Sobha Developers [Get Quote], Omaxe and Puravankara also plunged to their all-time lows.

There were also new listings such as REC, Gammon [Get Quote] 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 [Get Quote] and Patni Computer, GMR Infra, Tech Mahindra [Get Quote], 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 [Get Quote], Dalmia Cement, Essel Propack [Get Quote], Kinetic Engineering [Get Quote], LML Ltd [Get Quote], Madras Cement, Mirc Electronics [Get Quote], Nirma, Punjab Tractors [Get Quote], Apollo Tyre, Kinetic Motor, Rico Auto, Sona

Koyo, Hexaware [Get Quote], JK Paper [Get Quote], Wockhardt and TVS [Get Quote] Electronic. A number of companies from media and entertainment space, such as Deccan Chronicle, HT Media [Get Quote], Jagran Prakashan [Get Quote], IBN 18, Mid-Day Multimedia [Get Quote], Cyber Media, PVR Ltd [Get Quote], Pyramid Saimira, Inox Leisure [Get Quote], 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 [Get Quote], Renuka Sugar, GVK Power and


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