Nifty plunges 148 points on high-volt sell-off

    
Mumbai, Nov 3 Across-the-board sell-off triggered by dismal global equity markets pulled down the benchmark CNX Nifty by another 147.80 points on the NSE today.

The already weakened domestic bourses grasping for some positive cues came under the grip of heavy selling as cautious investors preferred to take out profits fearing further downtrend.

The recent rally in the market had made it more expensive as it moved head of its fundamental, traders said. The ongoing results seasons too failed to through any surprises, they said.

Sharp fall in index heavy-weight, Reliance Industries which fell by 5.83 per cent also weighed on the market.

The 50-share index resumed at 4,712.25 and touched an intra-day low of 4,538.50 and high of 4,729.85 before closing at 4,563.90, a sharp fall of 147.80 points, or 3.14 per cent, over last close.

From Nifty pack, Suzlon dropped by 12.86%, Hindalco by 10.

- (Agencies)
Nov 03, 2009

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