Monday, 21 November 2016

Markets near day's low; Sensex falls 400 points, Nifty below 7,950

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Benchmark indices continued to trade lower in afternoon trades with the Sensex down 400 points and Nifty cracking almost 100 points after Asian markets were defensive over strengthening US dollar since Donald Trump's win could accelerate fund outflows from emerging markets. Back home, investors continued to gauge the impact of demonetization on the economy. 


The S&P BSE Sensex breached its crucial 26,000 level falling as much as 373 points at intra-day trade after rising more than 120 points in morning deals on Monday. The index was dragged down by Tata Steel, SBI, Adani Ports and Tata Motors. 


Nifty pared all gains and fell below 8000 for first time since June 24 after reclaiming its 8,100 weighed down by losses in bank, realty, pharma and auto sectors.

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