Stock investors got increasingly worried about the possibility of fiscal slippage as the Sensex plunged 181 points due to concerns over trade deficit that ballooned to an almost three-year high. Lacklustre earnings by some blue-chip companies left investors disheartened, too. “Markets are pricing in the potential for a fiscal deficit target being pushed higher, with recent data showing pressures from both weak exports as well as high oil prices,” said Anand James, Chief Market Strategist, Geojit Financial Services Ltd. The opening for the 30-share Sensex was positive, but positivity ended there as the index started rolling down afterwards.
It settled at an over three-week low of 32,760.44, down 181.43 points, or 0.55 per cent.The loss for the Sensex read 372.69 points over the previous two sessions. At the close, the NSE Nifty was lower by 68.55 points, or 0.67 per cent, at 10,118.05. Intra-day, it moved between 10,175.45 and 10,094.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)