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Sensex slumps 329 points, Nifty plunges below 8,100 amidst global concerns

The Sensex And Nifty Both Recorded Losses By Falling 85.68 Points, Or 0.32 Per Cent, And 27.50 Points, Or 0.33 Per Cent, Respectively.

PTI | Updated on: 02 Dec 2016, 07:47:20 PM
Bombay Stock Exchange (Image Source:Getty)


Sensex displayed a downward trend for the second day and fell 329 points to end at 26,231 on Friday. Further, amidst increasing global worries, investors have hit the exit button.

Participants are in a wait-and-watch mode ahead of US jobs report as well as Italy's constitutional referendum on Sunday, which could determine whether or not the country will remain in the Eurozone.

Caution also prevailed ahead of the Reserve Bank's policy review next week, leading to fall in banking counters.

The BSE Sensex resumed lower at 26,437.37 and hovered in a range of 26,463.06 and 26,182.93 before closing 329.26 points, or 1.24 per cent, lower at 26,230.66, its lowest closing since November 28.

The gauge has dropped by 422.15 points or 1.58 per cent in two days.The NSE 50-share Nifty dropped by 106.10 points or 1.30 per cent to close at 8,086.80 after moving in a range of 8,159.30 and 8,070.05.

"Since morning, the market was following the rising global anxiety over today's US employment data and the forthcoming Italian constitutional referendum."

While RBI’s market stabilisation scheme (MSS) to suck the excess liquidity out of the system provided some short-lived relief to banks, the ongoing GST Council meet and issues related to dual control and implementation disrupted the investors’ mood," said Vinod Nair, Head of Research, Geojit BNP Paribas Financial Services.

Sustained foreign capital outflows also affected the market sentiment.

Foreign funds sold shares worth a net Rs 402.62 crore on Thursday, as per provisional data released by the stock exchanges.

For the week, the Sensex and Nifty both recorded losses by falling 85.68 points, or 0.32 per cent, and 27.50 points, or 0.33 per cent, respectively.

All the sectoral indices, led by consumer durables, FMCG and auto, ended with losses up to 2.32 per cent as selling pressure intensified.

Overseas, Asian stocks declined on global uncertainties.

Key Asian indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan fell by 0.31 per cent to 1.37 per cent.

European indices were trading lower in their afternoon trade, with key indices in France, Germany and London falling by 0.93 per cent to 1.33 per cent. 

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First Published : 02 Dec 2016, 07:36:00 PM

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