Sensex tumbles below 11,000-mark first time in two years

The benchmark Sensex on Wednesday tumbled below the 11,000-mark for the first time since August 2006. It lost little over 730 points in late morning trade following weak global markets on deepening financial crisis.

Mumbai, Oct 8 : The benchmark Sensex on Wednesday tumbled below the 11,000-mark for the first time since August 2006. It lost little over 730 points in late morning trade following weak global markets on deepening financial crisis.

The BSE barometer was trading at 10,965.01 points at 1045 hrs, a loss of 730.23 points, or nearly 6 percent, over the previous close.

The wide-based National Stock Exchange's (NSE) Nifty dipped by 213.90 points, or 5.5 percent, at 3,392.70 points in late morning trade.

It is believed that melting global markets and depreciating Indian rupee, which fell to nearly six-year low of 48.28 today, dampened the trading sentiments.

ANI