<p>The Bombay Stock Exchange benchmark Sensex, which lost 375 points in last three sessions, plunged by another 492.93 points to 19,691.81, the lowest since December 15.<br />Intra-day, it had dipped to a low of 19,629.22 triggered by a steep fall in stocks of metal, auto and IT sectors.<br /><br />Similarly, the broad-based National Stock Exchange index Nifty fell below 6,000 points level, losing 143.65 points, to 5,904.60. It touched an intra-day low of 5,883.60.<br />Selling pressure gathered momentum on fears of hike in interest rates to curb surging food inflation.<br /><br />RBI deputy governor said food inflation is "worryingly high", even as the finance minister asked states to improve supplies to help slow price increases.<br /><br />These comments came on the heals of the International Monetary Fund saying the RBI may have to keep raising interest rates to curb the pace of price increases.<br /><br />Marketmen said investors were worried that the hike in interest rates will have a negative impact on industry and might slowing down economic growth.<br /><br />A weak trend in the Asian region and lower opening in Europe further influenced the market sentiment.<br /><br />The metal sector index suffered the most by losing 4.03 per cent to 16,943.54, following a steep fall in Tata Steel, Sterlite Industries, Hindalco, Sesa Goa and JSW Steel. Hindalco Industries, an aluminium producer recorded its steepest drop since November 2009.<br />The interest senstive index of auto segment dropped by 3.26 per cent to 9,486.47 as Tata Motors, the leading truckmaker sank the most in more than seven months.<br />The banking index fell by 1.38 per cent to 12,512.18 as State Bank of India, the biggest state-run lender dropped 0.97 per cent, taking its weekly slide to 8.3 per cent. The stocks of HDFC Bank, ICICI Bank and Axis Bank also recorded fresh losses.<br />As the selling spread over a broad-front, smallcap sector index lost 2.86 per cent to 9,363.19 and midcap index by 2.49 per cent to 7,470.70.</p>
<p>The Bombay Stock Exchange benchmark Sensex, which lost 375 points in last three sessions, plunged by another 492.93 points to 19,691.81, the lowest since December 15.<br />Intra-day, it had dipped to a low of 19,629.22 triggered by a steep fall in stocks of metal, auto and IT sectors.<br /><br />Similarly, the broad-based National Stock Exchange index Nifty fell below 6,000 points level, losing 143.65 points, to 5,904.60. It touched an intra-day low of 5,883.60.<br />Selling pressure gathered momentum on fears of hike in interest rates to curb surging food inflation.<br /><br />RBI deputy governor said food inflation is "worryingly high", even as the finance minister asked states to improve supplies to help slow price increases.<br /><br />These comments came on the heals of the International Monetary Fund saying the RBI may have to keep raising interest rates to curb the pace of price increases.<br /><br />Marketmen said investors were worried that the hike in interest rates will have a negative impact on industry and might slowing down economic growth.<br /><br />A weak trend in the Asian region and lower opening in Europe further influenced the market sentiment.<br /><br />The metal sector index suffered the most by losing 4.03 per cent to 16,943.54, following a steep fall in Tata Steel, Sterlite Industries, Hindalco, Sesa Goa and JSW Steel. Hindalco Industries, an aluminium producer recorded its steepest drop since November 2009.<br />The interest senstive index of auto segment dropped by 3.26 per cent to 9,486.47 as Tata Motors, the leading truckmaker sank the most in more than seven months.<br />The banking index fell by 1.38 per cent to 12,512.18 as State Bank of India, the biggest state-run lender dropped 0.97 per cent, taking its weekly slide to 8.3 per cent. The stocks of HDFC Bank, ICICI Bank and Axis Bank also recorded fresh losses.<br />As the selling spread over a broad-front, smallcap sector index lost 2.86 per cent to 9,363.19 and midcap index by 2.49 per cent to 7,470.70.</p>