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Market spooked on global fears, Sensex at 6-month low, plunges 514 points

Nifty Tumbled 187.85 Points Below 8,108.45.

News Nation Bureau | Edited By : Apoorva Nawaz | Updated on: 15 Nov 2016, 04:40:45 PM
Market jittery on global factors, Sensex tanks 514.19 points (Pics: File Photo)

Mumbai:

Sensex tanks 514.19 points to end 26,304.63 on global fear post Donald Trump victory in US Presidential elections. While Nifty tumbled 187.85 points below 8,108.45.

Market on Tuesday also spooked by 77 percent chance of a 25 basis points rate increase at the upcoming Federal Reserve meeting, scheduled for next month.

Mixed trend at other Asian markets too influenced the trading sentiment. Market were closed on Monday on Guruparv. The recent  government's data, showed industrial production grew a meagre 0.7 per cent in September, mainly due to poor show by manufacturing and miningsectors coupled with decline in capital goods output.

Currency market was also hit hard, with the rupee down 57 paise to a five-month low of 67.82 against the US currency during the day. Sentiment continued to be weighed down by the government's move last week to withdraw high-value currency notes and disappointing quarterly earnings by some more blue-chip companies, brokers said.   

Malaysia's ringgit and South Korea's won lost at least 2.8 percent each. A gauge of the greenback erased its losses this year as US Treasury yields surged on speculation that Trump's pro-growth policies would boost inflation and push interest rates higher.   

The broader markets too remained under pressure, with theBSE small-cap index slumping 4.67 per cent and the mid-cap3.91 per cent.    However, when all the sectors fared poorly, only BSE IT index managed to keep its head up, logging gains of 0.30 percent.

This uptick was fuelled by buying in Wipro, TCS andInfosys, rising by up to 1.27 per cent. Tata Motors was the biggest loser from the Sensex pack onthe day -- sinking 9.88 per cent to Rs 457.25 after the company's standalone net loss widened to Rs 631 crore in the September quarter.    Meanwhile, foreign portfolio investors (FPIs) sold sharesworth a net Rs 1,493.27 crore last Friday, as per provisional data.     

 (With inputs from PTI)

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First Published : 15 Nov 2016, 04:16:00 PM

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