Sensex drop to lowest in 15 months with a massive loss of 6,825 points (33.6% in first half of 2008
Babu Ghanta
Jun. 30, 2008

Indian stock market fell again to close lowest in a year. The Sensex dropped 0.6 percent to their lowest in more than a year early on Monday, weighed down by political uncertainties and high global oil prices.

The hyperinflation, UPA coalition fiscal mismanagement and a political chaos surrounding the India-US nuclear deal are weighing on the market.

Indian financials such as ICICI Bank and Housing Development Finance Corp were leading the Indian equities market down on Monday. The Sensex finally ended with a loss of 341 points at 13,462. In the process, the index today ended the first half of 2008 with a massive loss of 6,825 points (33.6%).

The market breadth was fairly negative - out of 2,692 stocks traded, 2,107 declined, 543 advanced and 42 were unchanged today.

The NSE Nifty shed 96 points to end at 4,041.

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