Sensex, Nifty tumble nearly 1% on global weakness
The Hindu
Mumbai Equity benchmarks Sensex & Nifty close with deep losses amid weak global markets & selling pressure. FIIs bought equities worth Rs 1,696.86 crore.
Equity benchmarks Sensex and Nifty surrendered early gains to close with deep losses on January 8, snapping their two-day winning streak as investors pared exposure to banking, metal and FMCG stocks amid a weak trend in global markets.
The 30-share BSE Sensex tanked 670.93 points or 0.93% to settle at 71,355.22. During the day, it fell 725.11 points or 1% to 71,301.04.
The Nifty declined 197.80 points or 0.91% to 21,513.
Among the Sensex firms, State Bank of India, ITC, Nestle, Asian Paints, Tech Mahindra, Mahindra & Mahindra, Tata Consultancy Services and Hindustan Unilever were the major laggards.
In contrast, HCL Technologies, Power Grid, Sun Pharma, NTPC, Bajaj Finance and Titan were the gainers.
In Asian markets, Seoul, Shanghai and Hong Kong settled lower. Japan's Nikkei was closed for a holiday.
European markets were trading lower. The U.S. markets ended marginally up on Friday.
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