The BSE Sensex fell further in early trade on Monday, the fifth straight session of losses, due to sustained selling by funds on fears of a rate hike by the Reserve Bank of India (RBI), amid a weak trend in other Asian markets.
Stocks of banking, FMCG, power, oil and gas and auto sectors were the major losers that pulled down the Sensex.
The 30-share index of the Bombay Stock Exchange fell by 36.56 points, or 0.18 per cent, to 20,679.02.
It had lost 611.03 points in the previous four sessions.
The National Stock Exchange index Nifty fell 15.00 points, or 0.24 per cent, to 6,153.40.
Brokers said persistent selling by funds on fears of a rate hike by the central bank in its mid-quarter review of monetary policy on December 18 and a weak trend in the Asian region on speculation that the Federal Reserve will announce a cut in stimulus at its policy meeting this week, mainly dampened the trading sentiment on Dalal Street.
Among other Asian markets, Hong Kong's Hang Seng traded lower by 0.16 per cent and Japan's Nikkei fell 0.65 per cent in early trade.
The US Dow Jones Industrial Average, however, ended 0.10 per cent higher on Friday.
With inputs from PTI
For more news from Business Today, follow us on Twitter @bt_india and on Facebook at facebook.com/BusinessToday
via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNEnrap5nGrcdQnS4jRvTtFhTR2sPA&url=http://businesstoday.intoday.in/story/bse-sensex-nifty-stock-market-today-dec-16-rbi-review-weighs/1/201508.html
Put the internet to work for you.
0 comments:
Post a Comment