Indian markets recoup losses after initial bloodbath

RECOUPED: The Sensex fell more than 3.82 pc owing to fears of a debt default by Dubai World.

Ads by Google

ibnlive.com is on mobile now. Read news, watch videos
be a Citizen Journalist. Log on to m.ibnlive.com NOW!

Related Stories

• Dubai World debt won't impact India: Minister

• Dubai World debt crash pulls markets down

• Bloodbath in markets, Sensex ends near 19K

Photogallery

Find us on Facebook | Join IBNLive community

Stay ahead with G-Talk Buddy | Click now!

  

Mumbai: Indian equities managed to stem the losses suffered in the morning and afternoon sessions on Friday, with a key index ending trade 1.32 per cent lower after falling more than 3.82 per cent owing to fears of a debt default by Dubai World.

Indian stock markets had joined the tumble in bourses around the world after the state-owned holding company Dubai World, which manages that emirate's portfolio of businesses, said it had asked creditors for an extension of six months on debt repayments.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened the day at 16,718.8 points, shut shop at 16,632.01 points, down 1.32 per cent or 222.92 points, against Thursday's close at 16,854.93 points.

It had fallen by 644.49 points or 3.82 per cent during the day.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty closed at 4,941.75 points, against the previous close at 5,005.55 points, a loss of 63.8 points or 1.27 percent.

Broader market indices also managed to closed above the day's lows with the BSE midcap index down 1.35 per cent and the BSE small cap index ending 2.14 per cent lower.