Indian financial markets turned nervous today along with
markets elsewhere in the world on fears of a long war.
The Sensex fell by nearly 2.5 per cent and government
bond prices by 60-70 paise.
the 30-share Sensex plunged 78.37 points to close at 3,140.36
on the National Stock Exchange, the S&P CNX Nifty
Index shed 23.25 points to close at 1,013.90. In the bond
market, the 10-year-benchmark, 9.81 per cent 2013, ended
the day at a YTM of 6.40 per cent and a price of Rs 125.25.
Dealers expect the markets to be choppy in the next two
days with the war expected to last longer than previously
saw selling pressure almost across the board new
and old economy as well as defensive stocks. Technology
stocks lost considerable ground following the weakness
in US stock futures. Heavy selling in the technology counters
was reflected in the
Bombay Stock Exchange IT Index which fell 3.02 per cent
(44.73 points at 1436.91) compared to the Sensexs
2.43 per cent fall and Niftys 2.24-per cent drop.