Snapping its two-day rally, in BSE Sensex on Thursday crashed over 461 points – its biggest single-day decline in three weeks – to crack below the 26000 mark after BOJ took investors by surprise by deciding against fresh stimulus and due to caution in view of April futures and options (F & O) expiry.
Depressed global cues following subdued Asian Stock markets added to the widespread sell-off. BOJ, whose meeting ended on Thursday, maintained status qua on interest rates. Earlier, the US Federal Reserve chose to keep its policy unchanged while signalling confidence in the economic outlook.
The border NSE Nifty went below the psychological 7900 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, crude oil & gas, FMCG, infrastructure and auto stocks.
Participants were seen offloading there long bets in F & O segment instead of carrying them forward to the next series for May.
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