Mumbai: Led by a slide of 4.4% in the dependency industry after that it will review Aramco’s agreement, worth around $ 15 billion, Sensex fell more than 1,600 points in the late Monday, but the hunt for bargaining at a lower level helped him to close 1.170 Points at 58,466.
The slide of the day was also behind the fear of Dalal Street about raging inflation globally, selling foreign funds and the increase in new Covid-19 infections in several parts of Europe, sparking fears that the same thing could affect the rise process of current economic growth.
The day’s loss was the biggest for the index in more than six months.
Banking and financial shares also contribute to slides while Bharti Airtel Rally to close almost 4% after increasing the tariff of up to 25%.
However, investors are a lot divided if the government’s decision to revoke three agricultural bills can affect domestic business or not.
Sharp selling is also pushed to the background of a report by SBI on GDP growth.
The report by SBI sets Indian GDP growth during the July-September quarter, will be released on November 30, by 8.1% while fiscal 2022 is estimated to reach 9.3% to 9.6%.
In the session of the day, foreign funds lead slides while domestic funds support the market.
At the closing of the session, foreign portfolio investors (FPIS) recorded a net sales figure of Rs 3,439 Crore while domestic institutions were clean buyers at Rs 2,051 Crore, BSE data showed.
Of the 30 sensex constituents, 27 ends in red.
Today’s selling-off also made investors poorer with almost 6 lakh crore rs with BSE market capitalization now at Crore Rs 264 Lakh.
Sell-off also left investors more careful with Vix India, the volatility index which is also considered a fear gauge on the market, up 17.5%.