Sensex sheds 630 points

The Sensex nosedived by 630 points on worries over land, tax reforms on Tuesday.  

The benchmark stock indices nosedived by more than two per cent on Tuesday as the Government was preparing to refer the two contentious bills - Land Bill and Goods and Services Tax (GST) Bill - to special committees of Parliament. Concerns over the future of Greece in the Euro zone were also negatively impacting global markets.

The BSE 30-share Sensex tumbled by 629.82 points or 2.29 per cent to close at 26877.48. It touched a low of 26837.39 intra-day.

“The referral of the Land and Goods and Services Tax bills to committees and resultant delay in these key reforms coupled with weakness in the Indian rupee compared to dollar impacted investor sentiments negatively,” said Ravi Shenoy, AVP-Midcaps Research, Motilal Oswal Securities.

The rupee dipped to 64.17 a dollar at the close compared to 63.85 on Monday. On the NSE, a broader 50-share Nifty closed at 8126.95 with a loss of 198.30.

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Printable version | Apr 19, 2021 5:45:47 PM |

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