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Sensex closes 162 points lower at 38,701 as traders book profits
Equity benchmark indices closed in the negative zone on Monday as heavyweight scrips like Reliance Industries, State Bank of India and ITC came under selling pressure.
Mumbai: Equity benchmark indices closed in the negative zone on Monday as heavyweight scrips like Reliance Industries, State Bank of India and ITC came under selling pressure.
While corporates prepared to announce annual results this week, the BSE Sensex closed 162 points down at 38,701. The NSE Nifty 50 slipped 61 points to 11,605.
Also Read: Rupee slips 37 paise to 69.60 vs USD in early trade
The markets started on a moderate note following cues from upbeat global markets but continued to slide as the day progressed.
Meanwhile, Asian shares inched up to seven-month highs following hints of more fiscal stimulus in China.
In a document published on the central government’s website late on Sunday, Beijing said it will step up a policy of targeted cuts to banks’ required reserve ratios to encourage financing for small and medium-sized businesses.(ANI)