Sensex ends 555 pts down, off 28K

Equity trading tips: Sensex ends 555 pts down, off 28K; Nifty below 8,450

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The Sensex has plunged over 1200 points in four trading sessions, including today's decline, on earnings growth concerns, while weak cues across the region also dampened sentiment.

The Sensex slipped as much as 639.73 points in trade on Monday, to register its lowest close in three weeks, dragged down by losses in technology, realty, FMCG and auto stocks.

The rupee slumped to its weakest in over a month after a spurt in dollar outflows triggered by the greenback's strength globally as well as weaker shares, Reuters reported. The rupee had fallen to as much as 62.86 to the dollar, its lowest since March 16.

The 30-share index closed at 27886.21, down 555.89 points or 1.95 per cent. It touched a high of 28,539.46 and a low of 27,802.37 in trade today. The Nifty closed 157.90 points lower at 8448.10.

Apart from corporate earnings, developments during the second part of Budget session of Parliament will be closely watched, say experts. The second part of the budget session started on April 20 and will conclude on May 8.