Sensex closes below 32,000, Nifty drops 100 points, telecom stocks fall
The BSE Sensex closed lower by 252.88 points, or 0.76%, to 32,923.12, while the NSE Nifty 50 fell 100.90 points, or 0.99%, to close at 10,094.25.
business Updated: Mar 19, 2018 15:52 IST
The BSE Sensex dropped over 250 points on Monday, led by selling in telecom, realty, metals, energy, oil & gas, IT, teck,and power stocks amid weak domestic and global cues.
Investors remained cautious ahead of the US Federal Reserve’s key policy decision later this week. A widened current account deficit, which rose to 2% of the GDP at $13.5 billion in the December quarter, too, weighed on investor sentiment.
The BSE Sensex closed lower by 252.88 points, or 0.76%, to 32,923.12, while the wider NSE Nifty 50 fell 100.90 points, or 0.99%, to close at 10,094.25.
Losses on the benchmark BSE index were led by Tata Steel, Bharti Airtel,Coal India, Wipro and Yes Bank, with Bharti Airtel down 4.24% at close.
Meanwhile, on a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 150.46 crore, while domestic institutional investors (DIIs) sold equities to the tune of Rs 770.53 crore last Friday, provisional data showed.
US stocks ended modestly higher on last Friday with the S&P 500 breaking a four-day losing streak.