Sensex ends down 182 points
The 30-share Sensex slumped below the crucial 19,000-level in intra-day trading on Friday as the housing loan scam continued to hammer realty stocks, closing with a loss of about 182 points, although it regained the psychological mark.
Sensex started the day on a firm note but soon lost ground in a highly choppy trade, and finally settled at 19,136.61, shedding 181.55 points or 0.94 per cent from previous close.
Continuing its fall for the fourth consecutive session, the barometer had tumbled by 363.34 points to 18,954.82 during the trade -- the level last seen on September 13.
Crisis in Ireland and South Korea, interest rate hike in China, and a string of scams including 2G spectrum row and housing loan racket, has seen the Sensex plummet by 896 points or 4.47 per cent so far this month.
In a similar fashion, the National Stock Exchange's broad based Nifty also tanked by 47.80 points to finish at 5,751.95.
Marketmen said the continuous fall is an over-reaction to the negative news and also called it a buying opportunity for the investors.
"Sensex is on a falling spree due to the hammering in the blue chips including realty and banking shares in the wake of the ongoing investigations in the housing loan scam, which is just an over-reaction and market is bound to bounce back as the fundamentals are strong," CNI Research CMD Kishore P Ostwal said.
Realty stocks were beaten yet again with Jai Prakash Associates settling at Rs 105.75 with a loss of 8.04 per cent. The counter
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