Thursday, 26 March 2015

Closing Summary, Market Synopsis: 26th March, 2015

Market ends lower for seventh straight day amid geo-political crisis in Middle east: Benchmark indices ended at their lowest closing levels since January 14, 2015 and also registered the highest percentage drop since January 6, 2015 as risk-aversion prevailed on caution ahead of March F&O expiry and concerns over foreign capital outflows following the spike in geo-political tensions after Saudi Arabia led coalition of Arab nations launched air strikes on Yemen to neutralise Houthi Rebels. The seventh straight session of losses came on the back of sharp sell-off in financials and information technology shares along with losses in metal and pharmaceutical stocks.
The 30-share Sensex ended down 654 points at 27,458 and the 50-share Nifty closed down 189 points at 8,342. The next major trigger for the Indian markets is Q4 results of India Inc. which will start during second week of April, 2015. In the currency front, the rupee fell by 35 paise at 62.68 against the dollar today at the Interbank Foreign Exchange.

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