Sensex sinks below 58,000, Nifty tests 17,000 in 4th straight day of losses
The Hindu
The 30-share BSE Sensex fell 337.66 points or 0.58% to settle at anew five month low of 57,900.19
Benchmark BSE Sensex declined nearly 340 points to close below the 58,000 level on March 14, marking its fourth straight day of losses as auto, IT and financial stocks wilted amid concerns over the fallout of failure of two U.S.-based banks.
The 30-share BSE Sensex fell 337.66 points or 0.58% to settle at anew five month low of 57,900.19. During the session, it touched a high of 58,490.98 and a low of 57,721.16.
The broader NSE Nifty declined 111 points or 0.65% to end at a five-month low of 17,043.30, with 38 of its scrips ending in the red.
Analysts said relentless foreign capital outflows, investors junking riskier assets and weakness in the rupee against the U.S. dollar hit the market sentiment.
M&M was the biggest loser in the Sensex pack, declining nearly 3%, followed by TCS, Bajaj Finance, Wipro, Kotak Bank, Tech Mahindra, HCL Tech and Tata Motors.
In contrast, Titan, Bharti Airtel, ICICI Bank and L&T were among the gainers, rising up to 0.93%.
In the broader market, the BSE smallcap gauge fell 0.84% and the midcap index declined 0.46%.
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