Market nosedives on panic sell-off across globe

Indian equity benchmarks fell around 1.5% on Tuesday, but were still among the least affected markets on a day when there was panic selling across. News of an unfolding nuclear disaster in Japan sparked a sell-off all the way from Asia to Europe, with experts saying the slide was more sentiment-led rather than genuine selling.

March 15, 2011 / 17:03 IST

Indian equity benchmarks fell around 1.5% on Tuesday, but were still among the least affected markets on a day when there was panic selling across. News of an unfolding nuclear disaster in Japan sparked a sell-off all the way from Asia to Europe, with experts saying the slide was more sentiment-led rather than genuine selling.

Reliance Industries cushioned the losses in the Sensex and Nifty, with the index heavyweight gaining 1.6% to Rs 1,034 on hopes that its earnings would be boosted by better gross refining margins and higher petrochemical prices.

But at the broader level, nearly five shares retreated for every share that gained, underscoring the nervousness among market players.

The 30-share Sensex recovered from the day

first published: Mar 15, 2011 03:58 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

Al Edge Newsletter On Saturdays

Find the best of Al News in one place, specially curated for you every weekend.
MC Tech 3 Newsletter Daily-Weekdays

Stay on top of the latest tech trends and biggest startup news.