Sensex sinks 872 points as global markets reel

PTI

Mumbai, August 22

The Sensex dived 872 points while the Nifty finished below the 17,500 mark on Monday in tandem with a sell-off in world stocks on renewed concerns over global growth and hawkish stance of central banks.

Declining for the second consecutive session, the 30-share BSE Sensex tumbled 872.28 points or 1.46% to close at 58,773.87. Similarly, the broader NSE Nifty declined 267.75 points or 1.51% to 17,490.70. Barring ITC and Nestle India, all Sensex components posted losses.

ITC, Nestle buck trend

• Barring ITC and Nestle India, all Sensex components go down.
• Markets in Seoul, Tokyo and Hong Kong too end lower.

Tata Steel was the top laggard, skidding 4.50%. “Global markets were weak as dollar index strengthened over hawkish statements made by US Fed Chairman,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Vinod Nair, Head of Research at Geojit Financial Services, said consolidation was triggered in the market in anticipation of tighter monetary policy by the US Fed and worries over a slowdown in global economic activity.

Elsewhere in Asia, markets in Seoul, Tokyo and Hong Kong ended lower, while Shanghai settled in the green.

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