Stock Markets

The stock market lost further ground tracking negative global cues and as investors were unwilling to buy shares given the uncertainty on the economic front in India. Technology and banking shares were hit hardest in the slide.

At 1:30 pm, the Sensex was down 291 points or 1.93 percent at 14,774.62. The index touched a low of 14,743.08 after briefly scaling 15,088.03.

Today, the 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) plunked by over 1, 400 points.

Blue chips Reliance Industries Limited and private lender ICICI Bank led the drop as stocks around Asia felt the heat of investor disappointment at a U.S. stimulus proposal, with markets concerned it may not prevent a recession.