Five reasons why the Sensex tanked over 550 points in trade today

Investor sentiment turned sour after rating agencies Crisil, Icra and Care downgraded Dewan Housing Finance Corporation's (DHFL) commercial papers (CP), citing delays in debt servicing.

Stock market came under heavy selling pressure on Thursday, even as the Reserve Bank of India (RBI) slashed the repo rate by 25 bps (basis points), as expected by markets in its June policy meet. 

Frontline index S&P BSE Sensex plunged as much as 602 points in the intraday session to hit a low of 39,481.15 with IndusInd Bank, YES Bank, State Bank of India (SBI), Larsen & Toubro (L&T) and Mahindra & Mahindra (M&M) losing in the range of 3 - 7 per cent. The 50-share index Nifty of the National Stock Exchange (NSE), too, tanked 191 points, or