Sensex Crecks 500 Pts; IT, Auto, Metal, Oil Indices Fall 2%

Equity benchmarks as well as broader markets slipped around 2 percent each on weak global cues post sharp fall in crude oil prices last night. The 30-share BSE Sensex tanked 534.00 points to 27308.32 and the 50-share NSE Nifty lost 159.15 points to 8219.25.
All sectoral indices traded in red with the BSE Auto, Capital Goods, IT, Metal, Oil & Gas, Power and Realty indices declined over 2 percent while Bank and Health care dropped 1.8 percent each.
Oil marketing companies like IOC, BPCL and HPCL are trading in positive zone due to sustained fall in global crude oil prices.
The top losers on the Sensex pack are Tata Motors, Tata Power, Sesa Sterlite, Hindalco, L&T, ONGC, GAIL and Infosys.
Hindustan Unilever recouped intra-day losses and was the sole gainer in the Sensex.
The dollar strength continues with dollar index hitting 91.5 levels and gaining against most currencies. The USD-INR pair has been relatively range bound in the 63-63.50/dollar range. The Rupee is likely to be in the 63-64/dollar range with suspected intervention expected to continue.