India Sensex -3%; Tech Stks Tumble In Line With Region
Monday, March 13 4:59 PM SGT
BOMBAY (Dow Jones)--The Bombay Stock Exchange Sensitive Index, or Sensex, was down 3% to 5140.37 points in afternoon trading Monday, dragged down by heavy selling in technology stocks in line with weaker in tech shares in regional markets.
At 0905 GMT, the Sensex was at 5158.02 points, down 2.7%.
Dealers noted the Nikkei 225 Average ended nearly 3% lower Monday as investors rushed to sell off telecommunications and tech stock in Tokyo.
How the tech sector in India fares Tuesday will depend very much on the U.S. market's performance Monday, they added.
Among the day's major decliners are shares of Infosys Technologies, which have fallen by the daily limit of 8% to 10,764.05 rupees ($1=INR43.57) in late afternoon trading.
Also lower were shares of Satyam Computer Services, down 2.4% to INR5,999; Penta Media Graphics, down 5.2% to INR1584; and Global Telesystems shares, down 7.5% to INR2,780; and NIIT, down 4.4% to INR2,390. |
