The Bombay Stock Exchange sensitive index (Sensex) suffered most in the new year on Wednesday by losing 749 points on panic selling by funds after Satyam Computer said its profit had been inflated for years and rising concerns of dim third-quarter earnings of blue-chip companies.
The Sensex, which had gained over 688 points in the last four sessions of 2009, tumbled below the crucial 10000- level, losing 749.05 points to close at 9586.88 against 10335.93 on Tuesday. It touched a low of 9510.15 and a high of 10469.72, showing a wide fluctuation of nearly 960 points.
Satyam Computer shares crashed by Rs. 139.15 or 77.69 per cent to close at Rs. 39.95, after the Chairman announced that the company had falsified accounts and assets for several years.
The Sensex recorded the biggest single-day loss in the past two months, after Satyam Computer Services, the country’s fourth-largest software developer, plunged around 80 per cent, the highest since getting listed in 1992.
