Sensex is down 491, fall might continue

The Nifty breached the 5,000 mark, and both the Nifty and Sensex saw their lowest point since the first week of September in the Dalal Street carnage on Tuesday following weak global cues. The Sensex was down 491 points, closing at 15,404.94; while the Nifty fell 147.80 points, closing at 4,563.90.

The Indian markets were battered between signals from Asia and Europe; and US futures were down when Indian markets were closed, indicating a further fall was likely Wednesday.

The markets, down for the sixth consecutive day, spiked in the afternoon when European markets fell two per cent uniformly -something which has never happened before, said technical analyst Pradip Hotchandani of Anagram Finance Ltd.

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