BSE Sensex falls 437 pts | Nifty down 157 pts

(8/6/09 BSE | NSE Closing) - The 30 share SENSEX fell by a whopping 437 pts as investors sold their shares to make profits ending a 13 week bullish run. Metal, banking and realty stocks suffered hefty losses. The fall was the third-highest after those of January 7 and March 30.

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In a similar fashion, the 50-share National Stock Exchange index Nifty dropped by 157.00 points to 4,429.90, breaking a psychological 4,600 level.



Only information technology stocks were in positive territory following a firming dollar, raising hopes of better revenue. Over 50 per cent of the country's software export revenue comes from the US markets.

Marketmen said the steep rise of 88 per cent in the market was overdone and attracted profit-selling by funds and retail investors.

The major puller to the market were heavy-weight stocks like Sterlite Industries, Reliance Industries, Tata Steel, Reliance Communications, Reliance Infra, Jaiprakash Associates, ICICI Bank and State Bank of India.