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Sensex crash 1700 pts

The stock market benchmark Sensex on Wednesday crashed by 1,743 points within minutes of opening, prompting suspension of trade for an hour a fallout of regulator Sebi’s move to curb Foreign Institutional Investors.

The 30-share index, Sensex, tumbled to 17,307.90, a fall never seen before. The fall forced the trading to be suspended for one hour on BSE.

The fall comes days after Finance Minister P Chidambaram expressed surprise at rising stock prices and hoped for things to cool down.

The National Stock Exchange’s wide-based index Nifty also plunged 9.25 per cent to 5,658.90 points on Wednesday.

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October 17, 2007 | Filed Under Business

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