5 reasons why BSE Sensex fell over 500 points today

By: | Updated: July 8, 2015 5:33 PM

BSE Sensex cracked the 28,000-mark by tumbling nearly 500 points intraday, while NSE Nifty stooped below 8400-mark.

SENSEX AND NIFTYBSE Sensex cracked the 28,000-mark by tumbling nearly 500 points intraday, while NSE Nifty stooped below 8400-mark. (PTI)

BSE Sensex cracked the 28,000-mark by tumbling nearly 500 points intraday, while NSE Nifty stooped below 8400-mark.

Stock market benchmark Sensex today closed 483 points at 27,687.72.

This is the biggest one-day fall of the Sensex since a plunge of 661 points recorded over a month ago on June 2.

Here are top 5 reasons why Sensex crashed today:

1. Investor sentiment was badly hit following a major sell-off in other Asian markets with a nearly 6 per cent crash in Shanghai despite additional measures announced by the government to shore up the tumbling market

2.  Ongoing fears about Greece’s future in the Eurozone

3. The intensified selling has engulfed the whole market and metal and commodity stocks were suffering sharp cuts tailing the slump in the international market.

4. On the domestic front there was no support from any corner and traders were looking cautious not only with the global development but also about the corporate profit growth, as the first quarter earnings kick starts tomorrow with TCS numbers.

5. Vedanta was the top Sensex loser, skidding as much as 7.85 per cent, followed by Tata Motors.

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