Sensex, Nifty Fall For Second Straight Session On Weak Global Cues

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Indian equity benchmarks fell over a percent for second day in a row mirroring loss in other Asian and European markets on worries over slowing global economic growth.

The S&P BSE Sensex fell 1.05 percent or 378 points to 35,514 and the NSE Nifty 50 Index dropped 1.11 percent or 120 points to 10,672.

Worries over global growth grew after the iPhone maker cut its first-quarter guidance for the first time in almost two decades, citing an unforeseen slowdown in China and fewer upgrades to its flagship mobile device. U.S. equity futures slumped over 1.5 percent while European markets — DAX, CAC40 and FTSE 100 dropped up to 1 percent.

Back home, seventeen of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Metal Index’s 2.35 percent decline. On the flipside, S&P BSE Telecom Index was top gainer, up 0.6 percent.

Mid- and small-cap shares also face selling pressure as the S&P BSE MidCap Index tumbled 1 percent and the S&P BSE SmallCap Index declined 0.6 percent.

2019-01-03 10:03:09

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