Agencies
Mumbai, Nov 6: Sensex, which had recovered partially, once again slipped below the 10,000 mark tracking weak sentiments across Asian and US markets, despite Barack Obama's historic win in US polls. Sensex is about 400 points down.
Banking stocks earlier today, tumbled by over five per cent in morning trade on the Bombay Stock Exchange amid weak investor sentiment which pulled the benchmark Sensex below the 10k level. ( Watch )
The index of banking stocks, bankex, opened at 5,399.89 points, and dipped by 5.17 per cent to a low of 5,342.40. It was later quoted at 5,484.65 points.
Among the heavy-weight stocks, ICICI Bank plunged 7.65 per cent to a low of Rs 417.10. It was later quoting at Rs 435.25, down 3.63 per cent on the BSE.
Country's largest lender State Bank of India also plunged five per cent to a low of Rs 1,212. It was trading at Rs 1,231, down 3.35 per cent on the BSE.
HDFC Bank also slipped 5.44 per cent to Rs 1,035, while Yes Bank also plunged 9.36 per cent to Rs 74.10.
Marketmen said overnight fall in the US markets and negative Asian markets dampened investor sentiments here leading to a fall in the stock prices.
Other PSU lenders which bore the brunt of the weak global sentiments include Bank of India, which dipped 3.84 per cent, Canara Bank (2.17 per cent) and Federal Bank (3.96 per cent).
Bucking the trend, Punjab National Bank gained 0.89 per cent at Rs 496.20 on the BSE. Besides, Kotak Bank gained 1.91 per cent and Oriental Bank gained 0.59 per cent in the morning trade.
The benchmark Sensex tumbled by over 430 points and dipped below the 10,000 level in early trade today on heavy selling by foreign funds as well as retail investors.
US stocks plummeted on Wednesday, a day after Barack Obama's historic victory in the US presidential election, as a fresh batch of dismal economic data underscored the massive challenges awaiting his administration.
Grim economic news included a report that showed deep cuts in employment by private employers in October and data that showed the vast service sector contracted sharply last month as the worst financial crisis in 80 years roiled the world's largest economy.
The drop marked Wall Street's biggest loss ever on the day after a presidential election, coming immediately on the heels of its biggest Election Day rally on record in the previous session.
The Dow Jones industrial average slid 486.01 points, or 5.05 per cent, to 9,139.27. The Standard & Poor's 500 Index plunged 52.98 points, or 5.27 per cent, to close at 952.77. The Nasdaq Composite Index lost 98.48 points, or 5.53 percent, to 1,681.64.
Asian stocks also led losses sending the Nikkei down 5.25 per cent. The broader Topix sank 5.28 per cent, Hang Send dropped 6.72 per cent Straits fell 4.22 per cent.