Indian share prices plunged 3.43 percent in volatile trade on Friday amid a sell-off across Asian markets after Wall Street posted heavy losses overnight, dealers said. They said investors unwound positions on concerns of further US market falls.
The Mumbai benchmark 30-share Sensex index slid as much as 616.63 points or 3.9 percent to a day's low of 15,159.68, before recovering marginally to close at 15,234.57, down 541.74 points or 3.43 percent.
The points fall was one of the sharpest ever on the Sensex. "The party came to an abrupt end. Global markets will be watched closely in the days ahead," said Naresh Garg, chief investment officer at private sector Sahara Mutual fund.
Metal, property and telecom stocks were hardest hit amongst the benchmark blue chip stocks. The markets will look to first-quarter earnings, due on the weekend, from India's largest private sector firm, Reliance Industries, and consumer goods Hindustan Unilever for further direction, dealers said.
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