Sensex clocks worst quarter in nearly 3 years

The Sensex on Friday posted its biggest quarterly fall since the months following the Lehman Brothers collapse in 2008, as rising domestic interest rates amid slowing economic growth and concerns of a global recession kept investors wary.

The benchmark index ended the September quarter down 12.8 per cent — its biggest fall, since shedding 25 per cent in the October-December quarter of 2008, amid the global financial crisis and its third straight quarterly decline.

The 30-share BSE index closed down 1.46 per cent, or 244.31 points at 16,453.76 points, with all but one of its components declining in volatile trade.

The shares had risen 1.5 per cent in the previous session on optimism, ahead of a crucial vote in the German parliament that approved new powers for the euro zone’s rescue fund.

“Outlook remains circumspect, as global cues are negative even after German parliament has voted in favour of the rescue fund,” said Deven Choksey, CEO and managing director, K R Choksey.

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