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Panic rules

Mar 2, 2001

The last day of settlement on the BSE, profit warnings at NASDAQ and rumors flying thick and fast, all these factors compounded together led to an unprecedented fall in the TMT counters. As a result, the markets plunged over 4% in just two days after the 'pro-growth' budget. The top losers were led by Infosys, which led to a 59-point drop in the Sensex. Satyam added another 16 points. Both the Reliance companies together shaved off 48 points of the Index and Zee's contribution was 12 points.

The positive contribution whatever little was led by HPCL on divestment hopes and it added 5 points to the Sensex. MTNL and Hindalco added 4 points to the Index. Glaxo was up on the positives like the announcement of merger ratio with SmithKline Pharma and the possibility of it would be among the top gainers of the reduction in the number of drugs under the DPCO.

To find out an estimate of the contribution each of these stocks made to the gain in the Sensex, check out our Sensitivity Analyser

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