Sensex loses 371pts, Nifty ends at 7615; SBI, Sun Pharma down 4%

Bear_nse_bse_sensex_down_chart_up_356x200_3950_356The Sensex snapped four-day winning streak on Monday, falling 371.16 points or 1.46 percent to 24966.40 on profit booking. The Nifty tanked 101.40 points or 1.31 percent to 7615.10.
About 1930 shares declined against 752 advancing shares on Bombay Stock Exchange.
ICICI Bank, Sun Pharma, Tata Motors, SBI, Hindalco, Tata Steel and BHEL were down 3-9 percent while NTPC gained 1 percent.

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Asian Market Commentary

Asian_markets_china__356x200_2929_356Asia markets traded higher on Monday after most were shut for Good Friday, with a weaker yen helping to bolster Japan shares.

Japan’s benchmark Nikkei 225 was up 0.63 percent, while the Topix added 0.55 percent in early trade. Across the Korean Strait, the Kospi added 0.1 percent.

Chinese markets were also higher, with the Shanghai composite adding 0.65 percent, while the Shenzhen composite was higher by 1.28 percent.

The dollar has been edging higher on the idea that the Federal Reserve could give serious consideration to a rate hike at its April meeting

This week sees a slew of important data releases, with investors looking ahead to US non-farm payroll numbers for March and the Bank of Japan’s Tankan survey of business sentiment, both due Friday. No major economic data are due today.

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