The Sensex opened 89 points higher at 10,425, and soon touched a high of 10,470. The index faced a major jolt in form of the Satyam fiasco. Heavy selling in Satyam and select index stocks saw the index slip into the negative zone and drift lower as the day progressed. The index slumped to a low of 9,510, and finally ended with a huge loss of 749 points (7.2%) at 9,587. In the process, the index wiped out its entire gains registered in the last four trading days. Satyam slumped today following Ramalinga Raju's resignation as the company's managing director, and subsequent confession of a fraud in the company's accounts management by him. The stock, which, touched a high of Rs 189 in morning trades, saw a free fall and tumbled to a low of Rs 31. The stock finally ended with a huge loss of almost 78% (Rs 139) on the back of hefty volumes of around 14.30 crore shares.
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