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Indian Market: Sensex slumps 205.10 pts

Indian Market: Sensex slumps 205.10 pts

India Blooms News Service | @indiablooms | 21 Jan 2020, 12:12 pm

Mumbai/UNI: The benchmark index of Bombay Stock Exchange (BSE) on Tuesday dropped another 205.10 points to close at 41,323.81, after the International Monetary Fund (IMF) lowered India's growth forecast.

Muted quarterly results by key index constituents and negative global cues also put pressure on domestic shares.

The National Stock Exchange (NSE) too fell by 54.70 points to 12,169.85.

The Nifty registered day's high and low at 12,230.05 and 12,162.30 points, respectively.

The Sensex eased by 41 points to open at 41,487.57. During the day, it dropped nearly 234 points to 41,294.30 day low before closing at 41,323.81, sliding by 205.10 points from its last close.

The sectoral indices that kept the market under pressure were Auto, Utiltiies, Power, Realty, Capial Goods and Bankex.

The scrips like Tata Steel, M & M, Maruti Suzuki, Asian Paints and Power lost ground, while buying in Ultracemco, Kotak Bank, HDFC and IndusInd Bank capped from further decline, said the broker.

In the wider market, the S&P BSE Mid-Cap index fell 0.21 per cent, while the S&P BSE Small-Cap index ended flat.

The market breadth favoured the sellers. On the BSE, 1099 shares rose and 1399 shares fell. A total of 173 shares were unchanged. In Nifty 50 index, 12 stocks advanced, while 37 stocks declined and one stock was unchanged.

The International Monetary Fund (IMF) said the global growth, estimated at 2.9 per cent in 2019, is projected to increase to 3.3 per cent in 2020 and inch up further to 3.4 per cent in 2021.

Shares in Europe and Asia declined on Tuesday, after the International Monetary Fund cut it's global growth forecasts, primarily due to a sharp slowdown in India and other emerging markets.