Sensex ends 704 pts down; Fed's stance, Re play spoilsport

Global sell-off triggered the biggest point fall on Nifty since October 2008 and biggest percentage fall since August 2009. The 50-share NSE Nifty fell 209.60 points, to close at 4,923.65 and the 30-share BSE Sensex dropped 704 points, to end at 16,361.15.

September 22, 2011 / 18:21 IST

Fed's gloomy outlook on the US economy and a sharp fall in rupee (which signaled huge outflow of money) resulted in a bloodbath on Indian equities on Thursday.

Global sell-off triggered the biggest point fall on Nifty since October 2008 and biggest percentage fall since August 2009. The 50-share NSE Nifty fell 209.60 points, to close at 4,923.65 and the 30-share BSE Sensex dropped 704 points, to end at 16,361.15.

Investors, who were already rattled by unstoppable European debt crisis, got further worried with Fed's statement. Dariusz Kowalczyk, senior economist and strategist at Credit Agricole says that the key takeaway from last night's FOMC meet is the negativity in the Fed

first published: Sep 22, 2011 03:50 pm

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