Benchmark shares indices crashed over 2%, amid a sell-off in Asia and Europe, after suspension of trading in Chinese shares post the sharp plunge in Shanghai Composite. Further, geopolitical tensions in the Middle-East also dampened sentiment. The S&P BSE Sensex tumbled 534 points to close at 25,627 and the Nifty50 plunged 171 points to end at 7,793. In the broader markets, BSE Mid-cap and Small-cap indices cracked 1% each. Market breadth finished remain weak with 1,284 gainers and 1,598 losers on the BSE. “China's PMI continues to underline its downward growth trajectory with equity markets reflecting a sub-7% GDP figure for calendar 2016 and beyond. India’s manufacturing PMI has hitherto stayed reasonably resilient despite weak aggregate demand. However,a sub-50 print at the beginning of the year marks extended expectations on a recovery. One would hope that prudent fiscal expansion and select sector-wise recovery would bring back the ...
