A morning walk down Dalal Street | Market may see volatility due to F&O expiry; Nifty has support at 11,382
Episode 1722, Sep 26, 2019, 01:30 AM
The bears took a grip over the Indian market on September 25 as the equity benchmark indices ended with strong losses, following weak global cues.
The impeachment inquiry into the US President Donald Trump, tension in the Middle East and uncertainty over the US-China trade deal kept the market under pressure.
Other than the weak global sentiment, market experts believe the reports of the government's planning for strategic disinvestment in PSUs also contributed to the fall in the market.
"Political Uncertainty in the US amidst impeachment talks pulled indices lower today. Afternoon trade witnessed heightened selling led by PSU Banks amid reports of SUUTI stake sale," said S Ranganathan, Head of Research at LKP Securities.
Sensex broke the winning streak of the last three consecutive sessions, falling 504 points, or 1.29 percent, to 38,593.52. Only six stocks in the 30- share pack managed to settle in the green.
The Nifty index fell for the second consecutive day, ending the day at 11,440.20, down 148 points or 1.28 percent. This was the second biggest single-day fall this month for the index. Among the 50 stocks in the index, 37 suffered losses.