The BSE benchmark Sensex fell by a whopping 297 points in late morning trade on Friday on selling by funds as well as retail investors after the country’s economic growth declined to a decade low of 5 per cent.
The 30-share barometer after losing over 150 points in early trade fell further by 297.83 points, or 1.47 per cent, to slip below 20,000 point level to trade at 19,917.57 points at 11.15 hrs (IST).
All the sectoral indices, barring IT, were trading in the negative zone with fall up to 1.49 per cent.
Similarly, the wide-based National Stock Exchange index Nifty declined by 74.30 points, or 1.21 per cent, to 6,049.75.
India’s economic growth rate declined to a decade low of 5 per cent in 2012-13. The growth slowed to 4.8 per cent in January-March quarter of 2012-13 compared to 5.1 per cent in the same period previous fiscal.
Bucking the trend, IT sector stocks managed to trade in positive zone mostly supported by a weakening rupee, which hit one-year low against the dollar.