MUMBAI (Reuters) - The Nifty broke below the 8,000 level for the first time since Oct. 1, logging a sixth consecutive losing session after a private survey showed the manufacturing sector cooled to its slowest in nearly two years in October.
Market debutant Coffee Day Enterprises , the operator of India's biggest coffee chain, slumped 17.6 percent below its IPO price of 328 rupees as investors fretted over a generous price tag they said underestimated concerns around its complex structure.
The Sensex lost 0.37 percent and closed at 26,559.15.
The Nifty closed down 0.19 percent at 8,050.80, after hitting an intraday low of 7,995.60.
(Reporting by Karen Rebelo in Mumbai; Editing by Gopakumar Warrier)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app