Sensex and Nifty fell by more than 1.5 percent
Delhi Delhi. Benchmark equity indices Sensex and Nifty fell 1.6 per cent on Monday as concerns over third quarter earnings growth and continued foreign capital flight dented risk appetite. Besides, traders said fresh HMP virus scare, depreciation in rupee and weak trend in Asian markets further weighed on sentiment.The 30-share BSE benchmark Sensex fell 1,258.12 points, or 1.59 per cent, to close below the 78,000 level at 77,964.99. During the day, it dropped 1,441.49 points, or 1.81 per cent, to hit 77,781.62.
The NSE Nifty fell 388.70 points or 1.62 per cent to 23,616.05. In the 30-share blue-chip pack, Tata Steel, NTPC, Kotak Mahindra Bank, IndusInd Bank, Power Grid, Zomato, Adani Ports, Asian Paints, Mahindra & Mahindra and Reliance Industries were among the top laggards. “Indian equity markets witnessed sharp decline today, with both Nifty and Bank Nifty slipping below their 200-day moving average (DMA). The selloff was fuelled by increased foreign institutional investor (FII) selling and concerns over the upcoming third quarter earnings season. “Further, apprehensions related to the new HMPV further fuelled bearish sentiment, triggering fresh rounds of selling following the recent counter-trend pullback rally,” said Santosh Meena, Head of Research, Swastika Investmart.
Foreign institutional investors (FIIs) sold shares worth Rs 4,227.25 crore on Friday after a day’s respite, according to exchange data. Asian markets were trading higher with Seoul trading higher while Tokyo, Shanghai and Hong Kong trading lower. European markets were mixed. US markets closed in the positive territory on Friday. Global oil benchmark Brent crude fell 0.25 per cent to USD 76.32 per barrel. on Friday The BSE benchmark closed 720.60 points, or 0.90 per cent, lower at 79,223.11. The Nifty closed 183.90 points, or 0.76 per cent lower, at 24,004.75.
