Taking a cue from global markets, the country?s bourses ended in the red. The 30 share BSE Sensex shed 145.34 points, or 1.1%, to 13,547.18. The S&P CNX Nifty Index on the National Stock Exchange fell by 1.2% shedding 50.7 points to close at 4,110.55.
Rising uncertainty on the outcome of the US government?s plan to bail out the market and assuage the impact of the credit crisis caused the tremors. Added to this was the statement by Federal Reserve chairman Ben Bernanke who warned of ?grave threats? for the US economy.
Following this, several IT stocks took a plunge. Leading the fall was Infosys, which was among the biggest losers (1.1%) in the Sensex pack. The delay in implementation of Reliance Industries gas production had several analysts rework earnings estimates. This led to a fall in the company?s stock by 1%.
Since it was the last day of the expiry of September contract, the market witnessed additional volatility, said dealers. Overseas investors continued their selling spree and were net sellers at Rs 174 crore. This has taken the net outflow this year from equities to $8.89 billion.