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MARKETS HAMMERED; SENSEX TANKS 454 PTS
It was almost bloodbath on Dalal Street on Thursday on the back of panic selling by traders and FIIs. The reason for this panic selling was political instability and unearthing of numerous scams. In the melee, Sensex at one point shed more than 500 points while Nifty tested 5,750 level in an intraday trade. Bears were in grip in the second half of trade. Midcaps index were down 4.5% and smallcaps 6%. Among the sectoral indices, consumer durables was down 6.07%, realty 4.49%, healthcare 3.56% and metal 3.2%. Heavyweight RIL fell 3.5% and ONGC was down 1.76%. Banking majors SBI and ICICI Bank cracked 4.2%. More than 70 stocks crashed between 10-20% on BSE and more than 600 shares fell 5-10%. Sensex plunged 454.12 point to close at 19,242.36 while Nifty dipped 137.2 points to close at 5,766.50.
LEAD STORIES
TATA'S OPEN LETTER TO RAJEEV CHANDRASEKHAR
In his reply to Rajeev Chandrasekhar, Ratan Tata said his allegations were politically motivated and an attempt to embarrass the Prime Minister.
NO JPC BUT ONE-MAN COMMITTEE FOR TELCO PROBE
The government will set up a one-man committee of former Supreme Court judge Shivaraj Patil to probe into 2G scam.
INDIA IS 4TH-WORST BRIBE PAYING COUNTRY: STUDY
One person in four worldwide paid a bribe during the past year, according to a study released today to mark International Anti-Corruption Day.
TOP STORIES
•Day 20: Parliament adjourned yet again over 2G
•EPFO suspends new investments in LIC Housing
•MFIs threaten to leave Andhra Pradesh
•Loans in bribery probe were as per rules: RBI
•No concerns over PSU banks loans to telcos: FinMin
•FM cautions against volatility of FII flows, Euro crisis
•New portal to expose corruption in govt departments
•Food inflation rises marginally to 8.69%
•PMEAC chief seeks recast of MFI biz model
•Tata Motors to offer 4-year warranty on Nano
•Piramal announces Rs 2.5K cr share buyback
•Jindal Power may launch Rs 7,000-cr IPO by March
•Unilever proposes to induct Sunil Mittal on board
•Fund crunch affecting urban infra projects: Govt
•Low govt spending big reason for liquidity crunch: RBI
•Power sector needs $400 bn invst in 12th Plan
•Amar Lulla resigns as Cipla's joint MD
•Indiareit to raise $622 mn for 3 property funds
•Contours of Kashmir solution in sight: Chidambaram
•Facebook Founder, others pledge half their fortune
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