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Sensex and Nifty fall on persistent global market cues


Sensex and Nifty fall on persistent global market cues

Mumbai, August 26 (ANI): Sensex and Nifty faltered in early trade on Wednesday, paring some of the gains in the previous session as investors worried that fresh rate cuts in China would not be enough to stabilise its cooling economy or halt falls in global equity markets. The benchmark BSE Sensex was down 0.6 percent at 09:32 am after falling as much as 1.3 percent.

The index gained 1.1 percent on Tuesday. Global share markets have been hit by worries that the Chinese economy, the most important engine for the world economy, was growing at a much slower pace than Beijing's 7 percent target for 2015.

The Indian rupee stood at 66.23 for a dollar at 11.12 am, doing only slightly better than the previous day. Elsewhere, Asian stocks fell on Wednesday as investors feared fresh rate cuts in China would not be enough to stabilise its cooling economy or halt a collapse in its stock markets.

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