Sensex worsens after 2G summons, Bharti sinks 5%

Moneycontrol Bureau

The equity market took yet another turn for the worse in late afternoon trade after 2G trial court took cognizance of chargesheet against Bharti and Vodafone.

The Sensex fell 262.58 points and the Nifty slipped 84.35 points at 5750.90.

The Bhart stock slipped 5% after Sunil Mittal, chairman and MD of Bharti Cellular was summoned by 2G trial court. The trial court overseeing the additional spectrum case has named four persons and three companies as accused.

Top losers on the Sensex were BHEL, Bharti, Jindal Steel, Sterlite, and Mahindra and Mahindra, all down between 3.5 percent and 4.5 percent. DLF and Reliance Infra were the major losers on the Nifty.

Earlier, the market had collapsed after DMK pulled out of the ruling UPA government. The DMK ministers were likely to resign in next 24 hours to protest against alleged war crimes in Sri Lanka. The DMK has five ministers in the Union Cabinet.