Indices plunge post RBI policy decision; Sensex down nearly 800 points (Third Lead)
Friday - October 5, 2018 5:06 pm ,
Category : BUSINESS
Indices plunge post RBI policy decision; Sensex down nearly 800 points (Third Lead)
Mumbai Oct 5 (IANS) The key Indian equity indices crashed by over two per cent on Friday as the Reserve Bank of India (RBI) s changed policy stance from "neutral" to "caliberated tightening" along with a weak rupee and uncertainty in global trade dented investors risk-taking appetite.
Index-wise the Nifty50 of the National Stock Exchange closed at 10 316.45 points down 282.80 points or 2.67 per cent from its previous close.
On a similar note the S&P BSE Sensex ended the day s trade deep in the red. It opened at 35 097.99 points and closed at 34 376.99 points down 792.17 points or 2.25 per cent from its previous close.
It touched an intra-day high of 35 118.54 points and a low of 34 202.22 points.
Lately a weak rupee and high crude oil prices have plunged the Sensex by over 2 000 points in only three previous trading sessions while the Nifty50 has shed over 650 points.
"The policy decision was seen as an uncertain one as the markets expected a 25 basis points hike owing to the upcoming events like the Iran sanctions along with the volatile currency market. As the market is always wary of uncertainties it resulted in a panic sell-off " Astha Jain Senior Research Analyst Hem Securities told IANS.
--IANS ravi-rv/nir
Index-wise the Nifty50 of the National Stock Exchange closed at 10 316.45 points down 282.80 points or 2.67 per cent from its previous close.
On a similar note the S&P BSE Sensex ended the day s trade deep in the red. It opened at 35 097.99 points and closed at 34 376.99 points down 792.17 points or 2.25 per cent from its previous close.
It touched an intra-day high of 35 118.54 points and a low of 34 202.22 points.
Lately a weak rupee and high crude oil prices have plunged the Sensex by over 2 000 points in only three previous trading sessions while the Nifty50 has shed over 650 points.
"The policy decision was seen as an uncertain one as the markets expected a 25 basis points hike owing to the upcoming events like the Iran sanctions along with the volatile currency market. As the market is always wary of uncertainties it resulted in a panic sell-off " Astha Jain Senior Research Analyst Hem Securities told IANS.
--IANS ravi-rv/nir
