Markets crash, Sensex falls 1408 points

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Mumbai, January 21:: The Indian stock market suffered its biggest single-day fall, losing 1,408.35 points on panic selling triggered by weak global cues.

The fall in the 30-share Sensex surpassed that 826- points loss witnessed on May 18, 2006. Today's fall was, however, only the fifth biggest in percentage terms.

The index closed at 17,605.35, after moving between 18,919.57 and 16,951.50 points. It had shed a record 2062.20 in intra-day trade that saw it break three 1000-point barriers -- 19,000, 18,000 and 17,000 points.

This was the longest six-day falling streak for the sensex, which has suffered a total loss of 3,170.08 points. It set an all-time high peak at 21,206.77 on January 10.