Sensex, Nifty tank over 1% on concerns over Middle East conflict, weak global trends; Rupee falls 6 paise
The Hindu
Falling for the second session in a row, the 30-share BSE Sensex tanked 845.12 points or 1.14% to settle at a more than two-week low of 73,399.78
Stock markets took a beating on April 15 with benchmark Sensex and Nifty tumbling over 1% as escalating conflict in the Middle East and weak trends from global markets unnerved investors.
Falling for the second session in a row, the 30-share BSE Sensex tanked 845.12 points or 1.14% to settle at a more than two-week low of 73,399.78. During the day, it plunged 929.74 points or 1.25% to 73,315.16.
The NSE Nifty declined 246.90 points or 1.10% to settle at 22,272.50.
Key indices had plunged by over 1% in the previous session on Friday due to profit taking by investors at record high levels. Sensex lost 1,638 points or 2.19% while Nifty plunged 481 points or 2.13% to slip below the 22,300 level in two straight sessions.
Foreign fund outflows and hotter-than-expected US inflation data also played spoilsport for the markets.
Analysts said the renewed conflict in the Middle East, proposed changes in the India-Mauritius tax treaty and the hotter-than-expected US inflation proved to be major drags.
From the Sensex basket, Wipro, ICICI Bank, Bajaj Finserv, Bajaj Finance, Tata Motors, Larsen & Toubro, Tech Mahindra and HDFC Bank were the major laggards.
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