Sensex nosedives 1450 points in two days - why?
Indian stock market extended its weakness for second straight session on Friday ahead of US non farm payroll data and jobless claim data release. On Friday morning deals, 30-stock index Sensex opened with down trend and hit intraday low of 58,884, around 920 points lower from its Thursday close of 59,806 levels. On Thursday too, Sensex had shed around 550 points that means the 30-stock index has shed to the tune of 1,450 pints in two straight sessions.
image for illustrative purpose
Indian stock market extended its weakness for second straight session on Friday ahead of US non farm payroll data and jobless claim data release. On Friday morning deals, 30-stock index Sensex opened with down trend and hit intraday low of 58,884, around 920 points lower from its Thursday close of 59,806 levels. On Thursday too, Sensex had shed around 550 points that means the 30-stock index has shed to the tune of 1,450 pints in two straight sessions.
Dalal Street hit by global market
US dollar eased after Dollar Index regained 105 levels on Wednesday, according to market experts. However, it failed to sustain on higher levels. But, the profit booking in US dollar has not come to the equities as investors are awaiting US non farm payroll data and US jobless claim data that is expected today. Experts also maintained that today's sell off is because of the trickle down of weakness in banking stocks from Wall Street to Dalal Street.
