Sensex crashes below 26K-mark

Mumbai, April 28

Snapping its two-day rally, the BSE Sensex today crashed over 461 points — its biggest single-day decline in three weeks — to crack below the 26,000-mark after BOJ took investors by surprise by deciding against fresh stimulus and due to caution in view of April F&O expiry.

Depressed global cues following subdued Asian markets added to the widespread selloff. BOJ, whose meeting ended on Thursday, maintained status quo on interest rates. Earlier, the US Federal Reserve chose to keep its policy unchanged while signalling confidence in the economic outlook. The broader NSE Nifty went below the psychological 7,900-mark.

Investors remained cautious in the face of expiry of April series contracts in the derivatives segment, which dampened sentiment.

The index was dragged down by losses mainly in metal, oil & gas, FMCG, infrastructure and auto stocks.

Participants were seen offloading their long bets in futures and options (F&O) segment instead of carrying them forward to the next series for May.

The Sensex resumed higher, then slipped into the negative zone as selling intensified. It ended at 25,603.10, a fall of 461.02 points, or 1.77% — its biggest single-day fall since April 5. The index gained 385 points over the past two sessions. — PTI