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Sensex ends below 25K, plunges 371 points

Nifty 50 slips below 7,615

Policy Pulse
Publish Date: Mar 28 2016 4:00PM | Updated Date: Mar 29 2016 11:12AM

Sensex ends below 25K, plunges 371 points

 The domestic equity markets plunged xx points on Monday to snap their four-day winning streak. 

 
Investor sentiment was dampened by the rising possibility of US Fed rate hike in April and dampened expectations from RBI's monetary policy meet on April 5. 
 
The S&P BSE Sensex plunged 371 points, or 1.46 per cent, to close the day at below the 25,000-mark at 24,966. The BSE benchmark slipped below its 100-day moving average. 
 
The 50-share NSE Nifty50 ended the day lower by 101 points, or 1.31 per cent, at 7,615. The drop in the index was led by metals, banking and pharma stocks. The decline in the market was in line with the slump in emerging market economies reflected in the 2.23 per cent drop in the MSCI Emerging Market index. 
 
The broader market underperformed the benchmarks with the BSE midcap and smallcap indices slumping xx and xx per cent, respectively. Market breadth was extremely weak with 27 of the BSE30 stocks ending day with losses.