Daily News Sensex skids 709 points on weak global cues; Nifty...

Sensex skids 709 points on weak global cues; Nifty settles a tad above 9,900 – Times of India

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(Representative image)

NEW DELHI: Equity indices finished in red on Thursday with the benchmark BSE sensex sliding over 700 points amid foreign fund outflows and weak global cues.
Sensex slipped 709 points or 2.68 per cent to close at 33,538; while the broader NSE Nifty closed 214 points or 2.12 per cent lower at 9,902.
Major laggards in the BSE pack included State Bank of India, Sun Pharma, Maruti, Bajaj Finance, Tata Steel, Axis Bank and ICICI Bank with their shares falling as much as 5.64 per cent.
On NSE, sub-indices Nifty PSU and Bank fell as much as 3.89 per cent.
According to analysts, market ended on a negative note amid foreign fund outflow and weak cues from global markets after US Federal Reserve policy outcome.
“Some sort of fatigue is coming in the global markets. Flows from the international markets have been driving the equity markets in India. These two things are not working in the last two days and that’s why we are seeing some bit of pause,” Rusmik Oza, head of fundamental research at Kotak Securities in Mumbai, told news agency Reuters.
The US central bank on Wednesday cut its benchmark short-term rate to near zero, and said nearly all its policymakers foresee no rate hike through 2022.
(With agency inputs)

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