Mkts deep in red, Sensex sheds 338 pts

Reuters
Posted: Thursday, Jun 19, 2008 at 1457 hrs IST
Updated: Thursday, Jun 19, 2008 at 1628 hrs IST

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Sensex sheds early gains as RIL tumbles Sensex closes below 17,000 level Sensex nosedives by over 200 pts Sensex closes down 103 points

Mumbai, June 19:: drop in the index stocks as US credit concerns and expectations the Indian central bank may again tighten monetary policy hurt banking stocks. The BSE Bank index fell 4.01 percent.

No. 2 lender ICICI Bank fell 4.08 percent to 753.30 rupees, its lowest close since June 12, while bigger rival State Bank of India shed 3.7 percent to 1,301 rupees.

Top listed firm Reliance Industries dropped 1.7 percent to 2,245 rupees on selling by foreign funds, traders said.

The 50-share NSE index fell 1.71 percent to 4,504.25.

Elsewhere in the region, the Karachi's 100-share index ended 3.2 percent down at 11,870.95 points and Colombo's All share index lost 0.3 percent to 2,433.07....

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