Nifty & BSE encounter a sharp plunge

The 30-share BSE Sensex plunged by 221.38 points to 29,264.07; and the 50-share NSE Nifty decreased by 74.10 points to 9047.40; while the BSE Midcap came down by 0.9 percent with a weak market trend.

As observed, the benchmark indices are extending losses for three consecutive sessions as on March 22, 2017, weakened along with a slowed down broader market, as an affect of the slumping performance of the global peers, with a plunge in the stocks of banks, auto, metal and FMCG around the globe..

Axis Bank, Cipla, Infosys, HUL, Power Grid Corporation and Bharti Infratel incurred the biggest losses on the bourses.

The slump in the stock market came in the wake of North Korea's missile test amidst other events causing global political turbulance. The Wall Street saw a sharp plunge as the speculations over Donald Trump's tax reforms continued. A sentiment of doubt has seeped in among the investors about the delivery of the tax reforms ahead of the key healthcare vote, the dollar encountering a 4-month low, in the trade.

The shares are declining with a ratio of two shares declining with every one share rise on BSE.