After 1,000 Point Crash and Recovery, Sensex Closes at 36,841

The Indian equity benchmarks had slumped on the back of a sudden sell-off across the board.

After falling over 1,000 points and then recovering, the Sensex closed at 36,841.60, down 279.62 points, or 0.75 percent, on Friday, 21 September. Meanwhile, the NSE Nifty 50 Index dropped 0.8 percent, or 91 points, to settle at 11,143.

Earlier in the day, the Sensex fell by more than 1,000 points before recovering. The Nifty, too, broke below 11,000 points, falling by more than 350 points, but later reclaimed the 11,000 mark.

The Indian equity benchmarks fell for the fourth day in a row, paced by losses in Yes Bank, Indiabulls, Housing Finance and Bajaj Finance, reported BloombergQuint.

The benchmarks slumped on the back of a sudden sell-off across the board.

The S&P BSE Sensex had fallen as much as 3 percent to touch an intra-day low of 35,993.64, against the previous close of 37,121.22 points.

The NSE Nifty 50 Index had dropped as much as 3.27 percent to reach 10,866, before reclaiming the 11,000 mark.

After witnessing sharp decline in the stock price, Ashwani Kumar Hooda of Indiabulls Housing Finance had told BloombergQuint that the panic reaction in market is due to a large Non-Banking Financial Company (NBFC) defaulting two weeks back.