Benchmark indices Sensex and Nifty slid for a seventh straight session on Monday, logging their longest losing run in the previous 5 months, following a bearish development in world markets amid issues over aggressive fee hikes by developed economies.
(*5*)Photograph: PTI Photo
Fresh overseas fund outflows and losses in IT, auto and oil shares additionally dented investor sentiments.
The BSE Sensex declined by 175.58 factors or 0.30 per cent to shut at 59,288.35 with 17 of its shares posting losses.
During the day, it tanked 526.29 factors or 0.88 per cent to 58,937.64.
The NSE Nifty fell 73.10 factors or 0.42 per cent to finish at 17,392.70 as 33 of its shares ended in the crimson.
Sensex and Nifty fell for a seventh straight session, matching the seven-session losing run in the final week of September final 12 months.
In the seven periods, Sensex tanked 2,031 factors or 3.4 per cent whereas Nifty shed 643 factors or 4.1 per cent to shut beneath the 17,400 degree.
From the Sensex pack, Tata Steel, Infosys, Tata Consultancy Services, Tata Motors, Mahindra & Mahindra, HCL Technologies, Larsen & Toubro, Bharti Airtel, Wipro and Bajaj Finance have been the largest laggards.
Power Grid, ICICI Bank, Kotak Mahindra Bank and State Bank of India have been among the many gainers.
“Bears continued to wreak havoc in the home market as the newest knowledge releases from the US heightened the present worries of aggressive fee hikes.
“The private consumption expenditure in the US, which is Fed’s key monitorable of inflation, elevated in January, pressuring traders to steer clear of equities markets,” stated Vinod Nair, Head of Research at Geojit Financial Services.
In Asian markets, South Korea, Japan, China and Hong Kong ended decrease.
Equity markets in Europe have been buying and selling in the inexperienced.
The US markets had ended sharply down on Friday.
International oil benchmark Brent crude climbed 0.35 per cent to $83.41 per barrel.
Foreign Portfolio Investors (FPIs) offloaded shares price Rs 1,470.34 crore on Friday, in accordance with change knowledge.
Foreign traders have turned cautious and pulled out Rs 2,313 crore from Indian equities to date this month.
