Thursday, 22 December 2016

Nifty ends below 8000; Sensex loses 718 pts in 7 straight days

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Benchmark indices fell for the seventh consecutive session for the first time since March 2016, with the Sensex losing more than 300 points intraday Thursday amid thin volumes ahead of Christmas holiday. The consistent fall may be indicating that investors are worried about the impact of demonetisation on December quarter earnings, sales data and economic data due next month. 

They also maintained cautious stance ahead of US president-elect Donald Trump's policies that will be announced in January. The 30-share BSE Sensex plunged 262.78 points or 1 percent to 25979.60 and the 50-share NSE Nifty fell 82.20 points or 1.02 percent to 7979.10. The broader markets underperformed benchmarks with the BSE Midcap and Smallcap indices shedding 1.5 percent and 1.25 percent, respectively.

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