Sensex and NIFTY crash as Dow Jones plunges

 

Image Caption – Sensex plunged 1.61%, while NIFTY crashed 292 points on February 06 in the wake of US market crash.
Image Source: Reuters

 

Mumbai, February 06: The Bombay Stock Exchange extended their losses for the sixth successive session with the benchmark Sensex falling by another 561 points to close at a one-month low of 34,195.94. Along with Sensex, NIFTY recorded a loss of over 292 points at the open. This loss comes in the wake of US markets suffering a setback, with Dow Jones losing 1252 points at its opening on February 06.

After opening at 33,753.78, the BSE Sensex continued its slide to hit a low of 33,482.81 as selling gathered momentum in tandem with weak global leads. However, value-buying emerged at several counters during the late trading session. The benchmark finally ended at 34,195.94, down 561.22 points, or 1.61%.

These crashes in the market can be attributed to the crashes in US markets. The Dow suffered its worst point decline in history February 05. It amounted to 4.6% – the biggest decline since August 2011, during the European debt crisis.

However, there were many stocks that braved the situations and recorded as high as 13% rise in the day. SpiceJet rose 13%, followed by Intellect Design Arena – 9% – Polaris Consulting gained 7.3%, while Crompton Greeves went up 7% among the constituents in the S&P BSE 500 index.

Source: CNN, Business Today