Sensex tanks 458 pts in season of scams

Late last month,the investigating agency CBI unearthed a bribe-for-loan scandal involving officials from some state-run banks and two other financial firms.

Some investors preferred to book profit at the current stage as the market watchdog SEBI penalised four companies for colluding with stock brokers to rig their share prices.

In spite of a rise in the industrial output in October to double-digit (10.8 per cent) as against 4.4 per cent in the previous month,most of the indices finished with sharp losses.