associate sponsors


Sensex extends losses for fifth day, tanks 232 points amid political and macroeconomic concerns

New Delhi: Benchmark Sensex plunged over 232 points to end at 34,616.13 on Monday, extending its fall to the fifth straight session over political and macroeconomic concerns.

Investors were wary after BJP's B S Yeddyurappa resigned as the chief minister of Karnataka on Saturday minutes before he was to face a floor test to prove his contested majority in the hung assembly, paving the way for the JD(S)-Congress combine to form the government.

Sentiment got another jolt after Moody's Investors Service downgraded PNB's rating, citing the impact of recent fraud on its capital as well as weak internal controls, brokers said.

A file image of a stock broker. Reuters.

A file image of a stock broker. Reuters.

The 30-share Sensex had soared about 126 points to hit a high of 34,973.95 in early trade but gave up its gains following a widespread sell-off, which dragged it down to 34,593.82.

The gauge finally ended at a nearly one-month low of 34,616.13, down 232.17 points or 0.67 percent. This is its weakest closing since 25 April when it had finished at 34,501.60.

It had lost 708.41 points in the previous four sessions.

The broader NSE Nifty closed lower by 79.70 points, or 0.75 percent, at 10,516.70, after hovering between 10,621.70 and 10,505.80.

A plunge in the rupee's value and sustained foreign fund outflows added to the gloom.

Updated Date: May 21, 2018 16:40 PM

Also Watch

Watch: The true stories from Dharavi that inspired Rajinikanth's Kaala
  • Thursday, March 8, 2018 Watch: Cyrus Khan talks about Parkour, jumping across walls and why he hates sitting
  • Thursday, May 31, 2018 Unwind: India's basketball sensation Amjyot Singh has his eyes set on becoming an NBA regular
  • Monday, May 28, 2018 First Day First Showsha — Review of Solo: A Star Wars Story in 10 questions
  • Saturday, May 19, 2018 Social Media Star: Rajkummar Rao and Bhuvan Bam open up about selfie culture, online trolls

Also See

{if $hideJSforEU != 'yes'} {/if}