Market declines due to foreign investor selling, weak quarter earnings
At the close, the Sensex fell by 1.2 per cent or 942 points to 78782.24, while the Nifty dropped 1.27 per cent or 309 points to 23995.35.
The Sensex on Monday fell by 175 points during the early trade after it opened marginally lower.
The decline was led by automobile companies, however, FMCG and pharma stocks gained. At 9.19 a.m., the Sensex traded 175.19 points lower at 36,806.58, from its Friday’s close of 36,981.77.
The broader Nifty traded 41.80 points lower at 10,904.40.
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The government is expected to announce some more growth-inducing measures, especially for the real estate sector in the coming days.
The data which scheduled to be released on Thursday regarding Consumer Price Index (CPI) and Index of industrial production (IIP) will further reveal the depth of the slowdown.
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