Sensex , Nifty touch 18-month low
BSE Sensex closed 0.58% lower, its lowest since May 30, 2014 while NSE Nifty ended 0.71% per cent lower, its lowest since Jul 14, 2014.
With several companies about to release their corporate results, investors favoured a risk aversion mode.
Tata Consultancy Services, India's biggest outsourcer, is expected to report tepid growth in revenues, which weighed on the sentiments.
Oil & gas stocks were also under pressure as global prices continued to decline. Cairn India and ONGC were among other major Nifty 50 losers. According to analysts, there could be major losses if price of crude oil slips below $30 per barrel.
The fear of the Chinese economy under-performing still looms large.
Image: Wikimedia Commons
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