The BSE benchmark Sensex fell below the 16,000 level for the first time in six weeks, as it continued its losing streak continuously for the 8th day, losing over 425 points on heavy foreign fund outflows amid depreciating rupee and weak global markets.
Unfazed by ally Trinamool Congress' threat of even withdrawing support, Prime Minister Manmohan Singh on Friday virtually justified the hike in petrol prices, saying there should be further movement towards deregulation of fuel prices.