Slides 305 points on global worries
The S&P BSE Sensex slipped about 305 points to end at its lowest level in over 11 weeks on Monday on worries that sluggish growth in India and China would be further hit by the recent cut in U.S. monetary stimulus.
Selling by foreign funds amid downward revision of GDP (gross domestic product) growth rate by the government last Friday, also kept the domestic market under pressure.
The BSE 30-share barometer resumed lower and languished in the negative terrain throughout the day, before settling at 20209.26, a fall of 304.59 points or 1.48 per cent. This was its weakest close since November 13, 2013, when it ended at 20194.40.
In the Sensex, 25 constituents ended in the red.
The NSE 50-share CNX Nifty tumbled by 87.70 points or 1.44 per cent to end at more than two and a half month low of 6001.80.
Rupee recovers 12 paise
The rupee on Monday gained for the first time in three days and closed up 12 paise at 62.56 against the dollar on fag-end sales of the U.S. currency. At the inter-bank foreign exchange market, the rupee resumed slightly lower at 62.70 a dollar from last week-end’s close of 62.68. It later fell further to a low of 62.79 on weak domestic stocks, worries over recent cut in U.S. stimulus and lacklustre Chinese data. However, later it bounced back to settle at the day’s high of 62.56, a rise of 12 paise.