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Reply #59: south asia: Sensex slumps 389 points on growth, euro zone debt concerns [View All]

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 09:18 AM
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59. south asia: Sensex slumps 389 points on growth, euro zone debt concerns

MUMBAI: The BSE Sensex slumped 389 points to 16,488.24 on investor concerns about slowing growth and the government putting on hold its plan to open FDI in multi-brand retail, amid weak cues from Asian markets.

Doubts that a EU meeting to be held later in the day would be able to resolve the euro-zone debt crisis, and weak economic data from Japan and Australia signalling that the global economy is slowing, made investors jittery.

Domestically, reports that industrial output growth during October could have been negative for the first time since June 2009 hit investor sentiment hard.

The selling pressure was so strong that all the 13 sectoral indices ended in the red, losing up to 4.40 per cent.
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