Todays Sensex Tanks 215 Points, Nifty50 Ends Below 7,550 Level

indore, April 7, 2016 (Newswire.com) - After the setback from the Reserve Bank of India, anxiety over depressed March quarter earnings kicked off a selling spree on Dalal Street on Thursday, which dragged the benchmark indices to their three-week lows.

The domestic market opened weak despite strong cues from the big gains seen in the US market in overnight trade, a fresh bounce in crude oil prices and firm trading in Asian markets. Through the day, none of those triggers could halt a steady slide in the benchmark indices, which eventually closed the day nearly 1 per cent down.

The equity benchmarks traded in the red and witnessed a steady fall through the day. The 30-pack Sensex ended the day at 24,900.63, up 0.07 per cent or 17 points, while the Nifty50 closed at 7,614.35, with a gain of 0.15 per cent or 11.15 points.Global markets were mostly in the green. Crude prices were mixed and the rupee showed some strength, thanks to a fall in the US dollar. But local factors played spoiler.

The S&P BSE Sensex slipped 100 points tracking mixed cues from other Asian markets post US Fed minutes.The Nifty50 lost momentum in trade and was testing its crucial support level of 7,600, weighed down by losses in capital goods, banks, auto, and realty stocks.The broader market traded in-line with the benchmark indices with the BSE midcap and smallcap indices losing 0.10 and 0.15 per cent, respectively.The market breadth was mixed with half of BSE stocks trading in the red.

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