India's Sensex plunges below 10,000-level to a two-year low

New Delhi - India's benchmark Sensex Friday plunged to two-year lows under 10,000 points, registering a fall of 5.73 per cent on heavy selling by funds and investors.

After opening on a strong note, the 30-share sensitive index closed the day's trade down 606.14 points to 9,975.35, a level last seen in June 2006.

The index had touched the day's low of 9,911.32 during the day and a high of 10,786.93.

All blue-chip stocks including Reliance Industries, DLF Limited, Bharti Airtel, ICICI Bank and State Bank of India fell between 6 to 10 per cent. Realty and power stocks were the major contributors to the fall.

Similarly, the broader 50-share Nifty index fell by 194.95 points, or 5.96 per cent, to 3,074.35.

Foreign funds, which have been the main drivers of India's stock market upswing in recent years, have been net sellers this week, pulling out more than a billion dollars.

It has been quite a slide for the Sensex which had crossed its all-time high of 21,206.77 in January.

Foreign investors also sold stocks worth nearly 2 billion dollars in October and 11 billion dollars since January, the latest government data showed. (dpa)

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