A morning walk down Dalal Street | Nifty may show sign of some strength if it closes above 10,845
Episode 1699, Sep 20, 2019, 01:30 AM
US Fed hawkish outlook and slowdown woes hit Indian markets which hit a 7-month low. The S&P BSE Sensex and Nifty50 plunged more than 1 percent each. Ends At Lowest Level Since February 19
The S&P BSE Sensex plunged more than 400 points while witnessed a cut of more than 100 points, but managed to close above 10,700 levels on closing basis.
The final tally -- the S&P BSE Sensex plunged 470 points to 36,093 while the Nifty50 closed 135 points lower at 10,704 on Thursday.
Nifty Bank also turned negative for 2019, down 415 points today. The Nifty Midcap index falls in-line with benchmarks.US Fed hawkish commentary played the spoilsport but domestic cues also played their part.
Low tax collection and IMD’s report on floods damaging crops dented the sentiment.
The S&P Energy Index plunged 2%, followed by the S&P BSE Oil & Gas index which was down 1.9%, and Banks closed 1.69% lower. Telecom index closed marginally in the green.