The common minimum programme (CMP) of the United Progressive
Alliance was released on Thursday after market hours and
this caused the sensex to drop sharply on Friday.
close, the BSE Sensex was down by 223.16 points (4.4 per
cent) at 4835.39 and NSE's S&P CNX Nifty fell by 77.65
points (4.8 per cent) to 1,508.75.
statements made by the finance minister, P. Chidambaram
yesterday during market hours also depressed sentiment
leading to heavy selling.
selling of stocks were across the board. Sectors such
as banking, power, IT, FMCG and PSUs were all pushed down
by the market players.