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Markets nosedive. Nifty down by 2.5%

Markets have seen sharp cuts, swiveling down the benchmark indices. The global markets are experiencing a similar downturn. The US Markets had a disastrous session of trade yesterday. The Dow Jones industrial average plummeted 513 points, or 4 percent, Thursday on fears about the U.S. economy and the debt crisis in Europe. Asian indices are also plummeting down. The Nikkei index is down by over 3.5% while the Hang Seng is down by 4.75%.

At 9:54 AM, the Nifty has seen a cut of over 120 pts, to stand at 5210. down by 2.3%.

Many stocks have plunged, with cuts ranging from 4-5%.

TCS is down by 4.5%. Sterlite industries is down by 5%. Reliance Infra is down by 4.3%. Tata steel is down by 4.3%. JP associates, Punjlloyd – have all seen cuts of 4% each.

Guj NRE Coke is down by 10%.

Tata motors, Suzlon energy, DLF, Unitech – have all seen cuts ranging from 2-3%.

Index heavyweight RIL is down by 2.7%.



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