Sensex ends 807 points down, Nifty below 7,000; Tata Motors top loser
The benchmark indices tumbled tracking losses in Asian markets after Fed chair Janet Yellen kept options open for more US rate hikes while State Bank of India fell after posting disappointing earnings.
- Feb 11, 2016,
- Updated Feb 11, 2016 7:02 PM IST
Extending losses for the fourth straight session on Thursday, the S&P BSE Sensex tanked 807 points to end below its crucial psychological level of 23,000 for the first time since May 09, 2014, while broader CNX Nifty breached its key 7000-mark for the first time since May 12, 2014.
The benchmark indices tumbled tracking losses in global markets after US Federal Reserve Chair Janet Yellen kept options open for more US rate hikes while State Bank of India fell after posting disappointing earnings.
The 30-share index ended the day at 22,951, down 807.07 points, while broad-based 50-share index quoted 6,976, down 239.35 points at close.
Market breadth turned fairly negative with 28 of the 30 Sensex components ending the day in red.
Tata Motors was the top loser on Sensex and settled the day 7 per cent down after the auto major reported losses in December quarter profit.
Sticking largely to the script, Yellen made clear the central bank remained on a path of 'gradual' policy tightening. Yet she also highlighted growing risks facing the economy.
Among Asian markets, Hong Kong's Hang Seng index closed 3.8 per cent lower after the market returned from a three day closure for the Lunar New Year. Chinese markets will re-open on Monday, while Japanese markets are closed today for a public holiday.
Dow futures are trading 250 points lower, indicating negative start to the US markets.
Extending losses for the fourth straight session on Thursday, the S&P BSE Sensex tanked 807 points to end below its crucial psychological level of 23,000 for the first time since May 09, 2014, while broader CNX Nifty breached its key 7000-mark for the first time since May 12, 2014.
The benchmark indices tumbled tracking losses in global markets after US Federal Reserve Chair Janet Yellen kept options open for more US rate hikes while State Bank of India fell after posting disappointing earnings.
The 30-share index ended the day at 22,951, down 807.07 points, while broad-based 50-share index quoted 6,976, down 239.35 points at close.
Market breadth turned fairly negative with 28 of the 30 Sensex components ending the day in red.
Tata Motors was the top loser on Sensex and settled the day 7 per cent down after the auto major reported losses in December quarter profit.
Sticking largely to the script, Yellen made clear the central bank remained on a path of 'gradual' policy tightening. Yet she also highlighted growing risks facing the economy.
Among Asian markets, Hong Kong's Hang Seng index closed 3.8 per cent lower after the market returned from a three day closure for the Lunar New Year. Chinese markets will re-open on Monday, while Japanese markets are closed today for a public holiday.
Dow futures are trading 250 points lower, indicating negative start to the US markets.