Market falls sharply; Sensex tanks over 250 points, Nifty below 7850

| Friday, May 13, 2016 - 09:46
First Published |
Stock market: Short opportunity stockwise?

Stock market: Short opportunity stockwise?

New Delhi: Sensex plunged over 100 points in morning trade on Friday after retail inflation spiked in April while industrial growth stagnated. This has now dented further chances of a rate cut by the Reserve Bank of India in the June review. 
The Nifty50 slipped below its crucial level of 7900 weighed down by losses in power, oil & gas, metal, consumer durable, capital goods, and banking stocks 
The dollar gained against the yen after Japan's Central Bank governor said there was more room to ease monetary policy if needed. Yen fell to a two week low pressured by speculation that the Bank Of Japan could expand its monetary stimulus as soon as next month. Markets in Asia were lower in early trade, following a modest finish in US equities. The Bank of Korea is expected to announce its monetary policy decision.

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