Blood Bath on Markets; Sensex Crashes 491 Points; Nifty Near 4,850

While Poor Q3 Numbers by a string of leading companies the dented investor confidence in those stocks and the Resultant selling, the continued bearishness in the global markets also led Thurs heavy selling by funds across the counters, marketmen said.

Marketmen also attributed the panic selling Thurs unwinding of long positions by operators wary ahead of the expiry of the January contracts tomorrow.

The forthcoming credit policy, Which is expected Thurs announce some Measures to contain the Spiraling infliction, also weighed is interest-sensitive sectors like Realty, autos and banking, leading Thurs heavy selling in them, said marketmen.

However, Religare Securities president-equity broking Ashu Madan said, "the crash was expected on the line as a correction was due in the market after the huge rally of the past two-three months. Also, when there is no bad news, the Fear Factor comes to play - a fear that market may correct further made more pressure on the market and hence the crash. "

On the global front, the rating agency S & P downgraded the outlook for the Japanese economy Thurs negative yesterday and warned that it would revise its the ratings for the Japanese debt if the world's second largest economy did not bring down its huge deficit.Read More.http://economictimes.indiatimes.com/markets/stocks/market-news/Blood-bath-on-markets-Sensex-crashes-491-points-Nifty-near-4850/articleshow/5506118.cms

Blood Bath on Markets; Sensex Crashes 491 Points; Nifty Near 4,850