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Sensex nosedives 500 points; Nifty cracks 8,400 mark

Mumbai : Continuing its slide, the benchmark  BSE Sensex in mid-session tanked over 500 points and the NSE  Nifty cracked the 8,400-mark after Chinese shares extended  rout and fears of Greek eurozone exit hit trading

PTI [ Updated: July 08, 2015 13:15 IST ]
sensex nosedives 500 points nifty cracks 8 400 mark
sensex nosedives 500 points nifty cracks 8 400 mark

Mumbai : Continuing its slide, the benchmark  BSE Sensex in mid-session tanked over 500 points and the NSE  Nifty cracked the 8,400-mark after Chinese shares extended  rout and fears of Greek eurozone exit hit trading sentiment.

Reflecting steep fall in blue-chips, the 30-share index  which dipped below the crucial 28,000-mark in early trade,  continued to slide and tumbled by 504.63 points or 1.79 per cent to 27,667.06 during mid-session, with all the sectoral  indices led by metal and auto, falling up to 4.14 per cent.

The NSE Nifty also succumbed to all-round selling and cracked the 8,400-mark by falling 162.65 points or 1.91 per  cent to 8,348.15.

Besides, fresh weakness in the rupee which depreciated by  17 paise to Rs 63.63 (intra-session) against the dollar too  dampened trading sentiments, brokers said.

Sentiment was badly hit following a rout in other Asian markets with a near 7 per cent crash in Shanghai despite  additional measures announced by the government to shore up to the tumbling market, they added.

Japan's Nikkei tumbled 3.14 per cent, Hong Kong's Hang Seng plunged 5.97 per cent and Shanghai Composite index was  down almost 6 per cent after falling over 8 per cent in early  trade,

Major losers that dragged down the key indices were  Vedanta (8.83 pc), Hindalco (6.20 pc), Tata Steel (3.90 pc),  BHEL (3.32 pc), HDFC (2.46 pc), GAIL (2.20 pc), Infosys (2.11 pc), Coal India (2.05 pc), SBI (1.98 pc), M&M (1.90 pc), ITC  (1.85 pc), Cipla (1.69 pc), Bharti Airtel (1.68 pc) and ICICI  Bank (1.62pc).

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