sensex today: Bloodbath and back: Sensex swings nearly 1,500 points, settles with 280-point loss

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NEW DELHI: Equity markets witnessed a dramatic day of trading on Friday as Sensex swung as much as 1,495.60 points during the day.

The 30-share BSE index collapsed to an 1,100-point slump in mid-day trading, hitting the day low of 35,993.64. However, the index soon staged a V-shaped recovery and pared most of the losses. Eventually, the gauge closed at 36,841.60, down 279.62 points.

The broader 50-share NSE Nifty had cracked under the 11,000-mark during the mid-day plunge, before closing at 11,143.10, down 91.25 points.

In morning, the markets got off to a buoyant start with both the indices gaining nearly a per cent and Sensex rising more than 300 points.

The rout came in the small cap and mid cap indices, which were down 3.7 per cent and 2.5 per cent, respectively.

Market analysts pointed towards the crisis in IL&FS, an infrastructure finance conglomerate, while reasoning the crash. "It's the elephant in the room and anybody who has exposure to IL&FS will feel the heat," Sanjiv Bhasin, Executive VP-Markets & Corporate Affairs, India Infoline said.

IL&FS is facing severe liquidity crunch and has recently defaulted on repayment of Rs 100 crore. It is currently under the scanner of Reserve Bank of India (RBI).


Shares of non banking financial companies like Dewan Housing Finance Corporation, Indiabulls Housing Finance and Can Fin Homes all plunged up to 55 per cent.


All the sectoral sub-indices finished in the red with Nifty private bank sub-index tanking 3.5 per cent on back of the carnage in Yes Bank stock which lost 28.71 per cent after Reserve Bank of India (RBI) trimmed the term of its CEO and MD Rana Kapoor.


Pharma and PSU bank sub-indices also lost close to 2 per cent each.

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