There was no respite as the merciless killing saw the Bulls running
for cover. Those who tried to catch the falling knife were left
bleeding. The carnage not only eroded 20% in the past two weeks
but also broke below the psychological support level at 10K.
Reliance and ICICI Bank were the main culprits, together
contributing around 30% fall in the Nifty. Though the BSE Bankex
closed 4% higher, deep cuts were seen in CGS, Metal, IT and Oil &
Gas stocks. Volumes were higher during the fall.

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