The 30-share Bombay Stock Exchange (BSE) Sensex tanked on Monday to a two-and-half month low falling 304 points or 1.48 per cent to 20,209.26 points amid weak global cues, fears over the Federal Reserve tightening the stimulus further and apprehensions about the performance of the domestic economy.
The broader 50-share National Stock Exchange (NSE) Nifty also tumbled to the 6,000 points level by falling 88 points or 1.44 per cent to 6001.80 points.
Commenting on the fall in the Sensex, Angel Broking’s fund manager Phani Sekar said, “ Today’s fall was a part of a continuing trend in the market of weakness in global markets and apprehension about the Indian stockmarkets. Most of the anxiety, however, was centred around the Federal tightening.”
Manish Sonthalia of Motilal Oswal says there were several other factors responsible for Monday’s weakness.
“It was on the back of the government lowering the GDP growth number from 5 per cent to 4.5 per cent. Besides, there was a weakness in global markets on account of weak Chinese manufacturing data as well as the depreciation in the rupee,” Oswal said.
The broader 50-share National Stock Exchange (NSE) Nifty also tumbled to the 6,000 points level by falling 88 points or 1.44 per cent to 6001.80 points.
Commenting on the fall in the Sensex, Angel Broking’s fund manager Phani Sekar said, “ Today’s fall was a part of a continuing trend in the market of weakness in global markets and apprehension about the Indian stockmarkets. Most of the anxiety, however, was centred around the Federal tightening.”
Manish Sonthalia of Motilal Oswal says there were several other factors responsible for Monday’s weakness.
“It was on the back of the government lowering the GDP growth number from 5 per cent to 4.5 per cent. Besides, there was a weakness in global markets on account of weak Chinese manufacturing data as well as the depreciation in the rupee,” Oswal said.