Unprecedented fall in crude oil prices, weak global cues and muted March quarter earnings dragged the Indian market benchmarks into the red on April 21.

Weak oil demand, due to pandemic and lockdown in countries continues to drag oil prices in negative territory which is impacting the global sentiments.

Sensex closed the day with a loss of 1,011 points, or 3.20 percent, at 30,636.71 while Nifty settled 280 points, or 3.03 percent, lower at 8,981.45.

“Technically, Nifty has closed below the psychological level of 9,000 and 8,821 is the next crucial support and if it gets breached, a sharper fall could ensue. On the upside, 9,091 could offer resistance,” said Deepak Jasani, Head Of Research, HDFC Securities.

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