Economy

Sensex ends 295 points lower; Nifty settles at 9873-level

Sensex ends 295 points lower; Nifty settles at 9873-level”

Investors are fretting on the impact on fiscal deficit targets if the government were to go overdrive with economic revival plans.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.35 percent, while Chinese stocks remained shaky following the Federal Reserve's hawkish policy stance and S&P's downgrade of China's sovereign rating last week.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,986.40 points, closed at 31,626.63 points - down 295.81 points or 0.93 per cent, from its previous close at 31,922.44 points.

The benchmark Sensex lost as much as 448 points to hit a day's low of 31,474.56 points to a one-month low. Advances:declines ratio at the end stood at 1:3 against 1:8 in morning.

Geopolitical tensions on North Korea and continuous FII outflows led to nervous moments ahead of derivatives expiry due on Thursday.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,241.73 crore last Friday, showed provisional data from the stock exchanges. Modi is expected to make a huge announcement on reviving the economy, reports said.

On Friday, the benchmark indices witnessed the steepest fall since November 2016, on the back of escalating geo-political tensions between North Korea and the U.S., a weak rupee and heavy selling pressure in capital goods, metal and banking stocks.

The Sensex dived for the fifth straight session on Monday to close at nearly one-month low of 31,626.63 by plunging about 296 points, while the Nifty cracked below the 9,900-mark, tracking negative leads from the global market amid foreign funds outflows.



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