Sensex plunges on fiscal concerns

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LYONDELLBASELL IS ONE OF THE WORLD'S LARGEST PETROCHEMICALS COMPANY
LYONDELLBASELL UNDER CHAPTER 11 BANKRUPTCY PROTECTION SINCE JAN-2009
RIL MAKES NON-BINDING CASH OFFER TO BUY CONTROL IN LYONDELLBASELL
OFFER APART FROM EQUITY FINANCING PROPOSED BY RIL FOR LYONDELLBASELL
OFFER UPON EMERGENCE OF LB FROM CHAPTER-11
OFFER SUBJECT TO DUE DILIGENCE & SUFFICIENT CREDITOR SUPPORT
LYONDELLBASELL: RIL OFFER POTENTIAL ALTERNATIVE TO REORGANIZATION PLAN
LYONDELLBASELL: TO TRY TO MAXIMIZE VALUE FOR ALL CREDITORS
LYONDELLBASELL PRIVATELY OWNED BY PROCHEMIE GMBH
RIL: NO ASSURANCE THAT OPPORTUNITIES WILL RESULT IN A TRANSACTION
RIL: REVIEWING OTHER GROWTH OPPORTUNITIES FOR GROWTH IN CORE BIZ
SUBMITTED TO LYONDELLBASELL NON BIDDING OFFER TO ACQUIRE FOR CASH
CASH OFFER FOR A CONTROLLING STAKE UPON EMERGENCE FROM CHAPTER 11
OFFER PURSUANT TO ITS PLAN OF REORGANISATION
OFFER IS PRELIMINARY AND SUBJECT TO CUSTOMARY CONDITIONS
RIL REVIEWING OTHER GROWTH OPPORTUNITIES FOR GROWTH
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DELL LOST 10% ON FRIDAY AFTER MISSING REVENUES & EARNINGS TARGET FOR Q3
GOLDMAN SACHS DOWN 1.6%, GE DOWN 1.1%, CISCO DOWN 1%, MERCK UP 3.2%
DELL LOST 10% ON FRIDAY AFTER MISSING REVENUES & EARNINGS TARGET FOR Q2
DOW JONES FALLS FOR 3RD STRAIGHT DAY TO END LOWER BY 0.1% ON FRIDAY
NASDAQ DOWN 0.5%, S&P 500 INDEX LOWER BY 0.3% AT CLOSE ON FRIDAY
U.S MARKETS ENDED LOWER ON FRIDAY AS TECH STOCKS TOOK THE BIGGEST HIT
RELIANCE IND PLACES RS.115 CR ORDER WITH NORWAY'S AKER SOLUTIONS

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.