Tuesday 15 March 2016

Sensex Cracks 253 Points Ahead Of Fed Meet, Nifty50 Below 7,500

Posted by suhani varma on Tuesday, March 15, 2016 with No comments

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It was Coal India on Monday, and Lupin on Tuesday. The drugmaker tanked as much as 7 per cent and dragged the benchmark Sensex lower on reports that the US FDA made some observations on its Goa plant. Besides, global cues played spoiler and caused the benchmark Sensex retreat from its six-week high, as the 30-pack tanked 253 points to end at 24,551. Weakness in Asian equities after the Bank of Japan (BoJ) offered a bleak view of the country's economy also had a rub-off on Dalal Street, as did a fresh crash in crude oil prices. 

The BoJ on Tuesday kept the negative interest rate of minus 0.1 per cent steady and left the monetary base target unchanged at 80 trillion yen. It said the country's exports and production have been sluggish due mainly to the effects of slowing growth in emerging markets, which most analysts thought was a slightly bleaker view than the one it had given in January. 

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