BOMBAY -- Bombay stocks continued to plunge Tuesday, dropping 4.4% in a second straight rout.
The BSE Sensex index dropped 413 points to close at 9,062. Tuesday's selloff comes on the heels of a 3.4% decline Monday and puts the Sensex down 26% over the last month. The index has lost ground in six of seven sessions dating back to last week.
Among the major losers on the index were home mortgage company
, which dropped 9.6%,
, which shed 8.5%, power equipment company
, down 7.8%, and
, off 6.4%. Of 30 index components, only two rose, neither more than 1%.
Natural gas distributor
shed 6.8%. The company along and HPCL have set up a joint venture company, Aavantika Gas, to implement city gas projects for supply of piped natural gas to domestic, commercial and industrial consumers and compressed natural gas to automobile consumers in Madhya Pradesh.
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