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Lehman Bankrupts triggers global panic selling in equity markets

September 15th, 2008

Monday, September 15, 2008 10:34:39 AM IST

News of Lehman filing for Chapter 11 has brought panic across global markets. Indian stock markets opened the  day on an extremely weak note and almost all sectors took a shake. Nifty is down over 5%. BSE Sensex lost 680 points in the first half hour of trade.

CNX IT is down 6.11% with Satyam down by over 9.69%. The script is trading at 367.85 levels on NSE now. Banking stocks too corrected a bit. Bank Nifty is down 5.79%. Oriental Bank is down over 8.07%. Axis Bank and ICICI Bank corrected by 7%. Kotak Bank and Union Bank are down over 6.7% each.

Realty, Bankex, IT, Power are the biggest sectoral losers on the BSE. The BSE Sensex is now testing 14000 levels. BSE Midcap and Smallcap indices are down 4.3% and 3.39% each.

1 U.S. dollar = 45.5207 Indian Rupees
1 U.S. dollar = 106.0445 Japanese Yens
1 U.S. dollar = 0.6979 Euros
1 Ounce Gold = $780.60

Entry Filed under: Equity Markets, Opening trade