Sensex, Nifty plunge amid investor concerns over government finances, retail inflation data

Stock markets

According to market observers, domestic macro-industrial output data point released on Friday and heavy selling in index heavyweights like Coal India, ONGC, HDFC, Larsen and Toubro (L&T) and Tata Steel, among others, eroded investors' risk taking appetite.

The 30-scrip S&P BSE Sensex, which opened at 33,397.41 points, traded at 33,205.68 points - down 108.88 points or 0.33 per cent - from Thursday's close. Soon it slipped into the negative zone and fell below the 33,000-mark to touch a low of 32,999.98, but finally ended 281 points, or 0.84 percent, down at 33,033.56.

The BSE market breadth was bearish - 1,380 declines and 1,178 advances.

At 12.10 pm, the BSE Sensex was trading at 33,204.70, down 109.86 points, and the National Stock Exchange Nifty was at 10,271.75, trading 50 points lower. On Friday, the GST Council, headed by Finance Minister Arun Jaitley, slashed tax rates on more than 200 items - including beauty products, chewing gums, chocolates, coffee and custard powder - from 28 per cent to 18 per cent.

Melania Trump meets Shinee singer Minho in South Korea
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India shares fell on Monday, tracking lackluster Asian equities and amidst caution ahead of the consumer inflation data due later in the day.

The pound slipped in early trading amidst reports that 40 members of parliament from British Prime Minister May's Conservative Party have agreed to sign a letter of no-confidence in her, nearly enough to trigger a leadership challenge.

The broader Nifty of the NSE dropped 0.94 percent or 96.8 points to end at 10,224.95.

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