BLOOD HOLI CONTINUES IN DALAL STREET: SENSEX DOWN BY 1700

TNI News Service (TNS)

Webdesk, TNI Mumbai, 24th August, 2015: The outcome was expected but the wounds were much deeper than expectation. The carnage at Mumbai Dalal Street gathered speed as markets further continued their downward trip trailing a massive sell-off in Chinese equities accompanied by concerns that a meltdown in China can have insinuation on the global economy. A steep fall in the rupee reflecting drift in other budding market currencies has smashed the sentiments. At 3:20 PM, the 30-share Sensex was down by 1,701 points at 25,657, or 5.12% and the Nifty wilted to 539 points at 7,761, or 5.3%. The Sensex witnessed its largest collapse in about seven years in a day. In the broader market, BSE Mid-cap and Small-cap indices were down 7-8% each. The health of the market damaged further with 2,422 losers and 260 gainers on the BSE. Meanwhile, foreign investors remained net sellers in equities with huge sale of Rs 2,341 crore on Friday, as per temporary stock exchange data.

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