IT shares lead fall

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simantha roger

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Dec 5, 2008, 5:01:36 AM12/5/08

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Dear Friends,

Concerns about the weakening global economy, a likely lower opening of the European markets and media reports of a shootout at New Delhi's international airport early on Friday, 5 December 2008, pulled the market further lower in early afternoon trade. The BSE 30-share Sensex was down 182.42 points, or 1.94%, shedding 293.36 points from the day's high.

The market was volatile. The barometer index swung 327.40 points between the day's high and low so far in the day. A likely stimulus package from the government and the Reserve Bank of India (RBI) to pump prime the economy triggered a strong rebound after an initial fall caused by media reports of a shootout at New Delhi's international airport early on Friday, 5 December 2008. However, the market soon slipped into the red again in morning trade as European shares are seen opening sharply lower and due to Indo-Pak tensions in the aftermath of last week's terror attacks in Mumbai.

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