Stock Markets continue to plunge| Sensex sheds 561 points, Nifty 168

By Web Desk

February 06, 2018

New Delhi, February 06: The Indian stock markets continue to fall; Sensex shed 561 points during morning trade on Tuesday. The BSE fell 3.57 percent and currently stands at 34,195 and the Nifty fell 168 points and went down to 10,498. The unfavorable conditions prevailing in Wall Street and the worries over crude oil future reflected in the Indian Stock market.

The Indian markets were already under pressure after the Union Budget which focused on populist measures, imposed a long term capital gains on equities.

Tata Motors crashed 10 percent post earnings, HDFC, Reliance, Maruti Suzuki, State Bank of India (SBI), ITC, and Axis Bank went down three to seven percent.

The Indian Rupee which opened at Rs. 64.35 per dollar as against Rs. 64.06 on Monday plunged 29 paise.

Dow Jones fell over 1,100 points, its biggest fall in six-and-half years; the Industrial Average fell 1,175.21 points to 24,345.75. Nasdaq dropped 273.42 points to 6,967.53 and the The S&P 500 lost 113.19 points to 2,648.94