Sensex plunges on fiscal concerns

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CRUDE FALLS 2.6% TO $77.43 BBL
COPPER DOWN TO $6490/TON ON WEAK DEMAND AND US UNEMPLOYMENT DATA
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CO TO LAUNCH ITS 3 SCREENS MULTIPLEX IN KANPUR
DOW JONES UP 0.17%; NASDAQ UP 0.34%; S &P 500 UP 0.25%
RCOM LOSES 0.1%, SHEDS 23.5 LAKH SHARES IN OPEN INTEREST
IDEA LOSES 5.2%, ADDS 30.6 LAKH SHARES IN OPEN INTEREST
ASHOK LEYLAND GAINS 4.9%, ADDS 32.4 LAKH SHARES IN OPEN INTEREST
NIFTY CLOSES JUST BELOW 4800 AFTER A GAP UP OPENING
STRONG AT $1095/OZ AS SAFETY MEASURE POST RISE IN U.S UNEMPLOYMENT DATA
U.S UNEMPLOYMENT DATA AT 26 YEAR HIGH;CRUDE FALLS 2.6% TO $77.43 BBL
SMS BOS < SPACE > MF, MUTUAL FUND QUERY AT 56388
ISSUES REGULATORY FRAMEWORK FOR AUTHORISED PERSONS
AUTHORISED PERSONS CAN FACILITATE TRADING THROUGH BROKER TERMINALS
STOCK BROKERS TO SEEK SEBI APPROVAL FOR APPOINTING AUTHORISED PERSONS
COS GETTING FRESH FDI IN SECTORS WHERE FDI CAPS HAVE GONE UP: SOURCES
NEW NORMS TO CONSIDER TOTAL FOREIGN INVESTMENT NOT TOTAL INVESTMENT: SRCS
CCEA NOD NEEDED ONLY FOR INVESTMENTS OF RS.1200 CR AND ABOVE: SOURCES
GOVT TO EASE NORMS FOR FDI REQUIRING CABINET APPROVAL: SOURCES
NO PLANS TO OFFER HOME LOANS AT 8%: NW
DOMESTIC FUNDS NET BUY RS.236.62 CR IN EQUITIES ON NOVEMBER 6 (PROVISIONAL)
FOREIGN FUNDS NET BUY RS.587.02 CR IN EQUITIES ON NOVEMBER 6 (PROVISIONAL)
EXL TO ACQUIRE BACK-OFFICE OPS OF AXP BUSINESS TRAVEL IN INDIA FOR $30 MN
EXL ENTERS MULTI-YEAR SERVICES PACT WITH AMERICAN EXPRESS

Updated: 06/07/2009 | 01:21 PM IST

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NDTV Correspondent

Monday, July 06, 2009 (New Delhi)

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The key benchmark indices plunged today led by a sharp decline in banking, metals and oil & gas stocks. Finance Minister Pranab Mukherjee set a sharply higher fiscal deficit target to 6.8 per cent for the financial year ending March 2010. In a big surprise, the finance minister totally bypassed the issue of divestment. Finance minister also surprised the markets by keeping quiet on FDI.

The Sensex was trading at 14, 337, down 575 points. The Nifty fell 174 points to 4,250 levels.

On the sectoral front, the BSE banking index fell 5.3 per cent. The BSE metal index fell 4.5 per cent and the BSE power index shed 3.7 per cent.

In the 30-share Sensex pack, 29 stocks were trading lower.

Reliance Infra was the biggest loser. The stock plunged over 8 per cent. HDFC, ICICI Bank and Tata Steel were the other main losers in the group, down over 6.9 per cent each.