MUMBAI: Today sensex and also the nifty, both fell over 1.5% each, their greatest single-session stop by over two several weeks, after economic data from Europe pointed at restored weakness while data from China demonstrated weak employment growth.
Sensex closed 431 points lower at 26,776 while nifty lost 129 points at 8,018 as ICICI Bank, Reliance Industries and Tata Motors drawn lower the indices.
After beginning flat during the day, sensex continued to be within the negative territory but began losing steam after mid-session once data from Europe hit the industry.
Reviews stated that manufacturing PMI (a gauge for future factory activities) for Germany, Europe’s biggest economy, was lower at 50.3, its cheapest reading through in more than a year against a Bloomberg forecast of 51.2, as the services PMI for France dipped right into a territory that demonstrated contraction. Any PMI reading through of below 50 is viewed as an indication of contraction for your particular industry.
One of the sensex stocks, both ICICI Bank and RIL lost 2.5% each to drag lower the index while Cipla brought the laggards having a 4.6% slide.From the 30 sensex stocks, only four stocks closed with gains, but each were up under .2%.