Stock market updates for the day (3rd August '11)
After posting fairly strong gains on Monday on the back of the U.S. government deciding to hike debt limit to avoid a potential default, Asian markets turned weak on Tuesday as worries about slowing economy resurfaced and triggered a sell-off. The mood, quite naturally, was bearish when the Indian market opened for trading this morning.
With investors staying cautious and pressing sales till the end of the session, several blue chip stocks across various sectors closed with notable losses, pushing the benchmark indices Sensex and Nifty down by over 200 points and 60 points respectively.
While the Sensex, which plunged to 18,037.87, ended the day with a loss of 204.44 points or 1.12% at 18,109.89, the Nifty closed at 5456.55, around 23 points off the day's low, netting a loss of 60.25 points or 1.09%.
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