Mayhem in Friday Market; Sensex plunges 279 points

Friday saw an extremely volatile market with sensex plunging over 1,100 points around 1 pm  but climbed back to close 279 points lower.

The day began on a strong note on back of positive global cues and stronger rupee.

The sudden crash took place after banking and financial stocks went for a free fall.

DHFL led the plunge by dipping 50 percent down from it’s previous close. Indiabulls Housing and other home lenders followed cue.

However managements of these NBFCs came up to allay fears and dismissing reports of debt defaults and market staged a cover-up but with DHF and others in the sector climbing only marginally.

At closing time , Sensex was down 273.62 points at 36,841  and Nifty lower by 91 points at 11,143.10.

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