Sensex closes 349 points lower, Nifty ends at 3-month low
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Mumbai: The BSE Sensex on Wednesday tumbled over 349 points to close at 27,527.22 on weakening global cues after the latest poll suggested that Republican candidate Donald Trump was slightly ahead of market favourite and his Democratic Party rival Hillary Clinton in the US Presidential polls.
Also, the broader NSE Nifty broke below the 8,600-mark level to close at an over three-month lows. Investors are also waiting the US Federal Reserve’s interest-rate decision later today.
The 30-share index stayed in the negative terrain for the whole day and settled lower by 349.39 points, or 1.25%—its biggest single-day fall since 13 October—at 27,527.22. This is the weakest closing since 17 October when it had closed at 27,529.97. The gauge had lost 64.90 points in the past two sessions.
The broader Nifty also succumbed to selling pressure and slipped below the 8,600-mark to hit a low of 8,504.85 before ending 112.25 points, or 1.30% down at 8,514, its lowest closing since 21 July.
Oil and Natural Gas Corp. was the top Sensex loser, skidding 4.10% to close at Rs277.35, followed by Tata Motors, which fell 3.19% to Rs514.
Others that put pressure included SBI, Sun Pharma, RIL, Bharti Airtel, Dr Reddy’s, Cipla, TCS, Hero MotoCorp., Maruti Suzuki, Asian Paints and ICICI Bank, falling by up to 2.75%.
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