Dalal Street on Friday posted its biggest quarterly fall since the global financial crisis three years ago — following the Lehman Brothers collapse in 2008 — as rising domestic interest rates amid slowing economic growth and concerns of a global recession kept investors wary. The benchmark Sensex ended the September quarter down 12.8 per cent — its biggest fall since shedding 25 per cent in the October-December quarter of 2008 amid the global financial crisis — and its third straight quarterly decline.
Sensex dipped 244 points to 16,453.76 on Friday as investors sold across sectors amid weak overseas markets and renewed concerns over further hike in interest rates, high inflation and global economic slowdown. The sell-off wiped out the 1.5 per cent rally in the previous session when optimism ahead of a crucial vote in German Parliament that approved new powers for the euro zone’s rescue fund had bolstered the sentiment.
Source: http://www.indianexpress.com/news/Sensex-posts-worst-quarterly-fall-after-2008-global-crisis/854167/
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