It was a sort of blow to the Indian equities today. Fears gripping in the minds of the investors led to the frenzy selling in the market today, when FIIs have taken out almost 1100 Crores in a single day. Sensex crashed by 626 points or 4.27% from its previous close. The psychological barrier of 15,000 was broken today and 4400 was also broken on nifty.

Nifty closed at 4387 levels down by 192 points or 4.2% today.4400 is a crucial level to watch in nifty. A sharp meltdown in Chinese market and consumer data in US has taken the investor community aback. People have started worrying if the recession is all but over. Nikkei-225 crashed by 3.1%, Hang Seng by 3.6% and Strait Times by 3.25%. It led to a heavy selling activity in Indian markets today.

European markets were not behind in this case. FTSE was down by 1.4% and DAX was down by 2.02%. Currently the US markets is getting cracked. Dow is trading down by almost 1.72% and Nasdaq is down by 2.4%. We can see some more sell off tomorrow but then a recovery will also follow soon. In second half we can expect some recovery. These are good times to accumulate some good stocks like SBI, RIL, DLF, NTPC, HDIL etc and wait for market to regain strength. Realty, auto and metals were the worst hit segments today. So lets see how does Indian market open up tomorrow.

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