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  • Sensex nosedives 654 pts on Middle East tension, F&O expiry

    Published on March 26, 2015

    The benchmark Sensex on Thursday plummeted over 654 points in its biggest drop in nearly three months to end at 27,457.58 on across the board selling as geo-political issues in the Middle East triggered capital outflow concerns.

    Participants were also jittery as Thursday saw expiry of monthly derivative contracts, brokers said, adding that global sentiment was weak after US equities fell overnight reacting to a surprise fall in durable goods orders for February.

    Crude oil surged by almost 6 per cent on supply concerns after Saudi Arabia carried out air strikes against Huthi rebels in Yemen today.

    In the local currency market, the Indian rupee weakened by another 32 paise to 62.65 (intra-day) against the dollar.

    The BSE 30-share Sensex remained in the negative zone through out the session as selling pressure gathered momentum.

    It ended 654.25 points, or 2.33 per cent down, at 27,457.58, its weakest closing since January 14.

    The index has now lost 1,278.80 points in seven straight sessions.

    The index’s drop today was its steepest since 854.85-point fall on January 6.