Bombay Stocks Plunge

The Sensex drops 6.8%.
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Bombay stocks plunged 6.8% Thursday as world markets continued to get hit hard by U.S. inflation worries.

The BSE Sensex dropped 826 points to close at 11,391. Also hitting indexes were draft guidelines that aim to distinguish shares held as stock-in-trade and shares held as investment to plug tax avoidance.

Top losers for the day were the oil stocks like

ONGC

, down 7%, and

Gail

, down 5%. Auto stocks like

TVS Motors

, down 10%,

Tata Motors

(TTM) - Get Report

and

Maruti

, each down 9%, led pack of losers.

This story was created through a joint venture between TheStreet.com and IRIS.