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Original headline: Twelve years , 12 question : Akhilesh Yadav targets Centre on banking problems in India
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- Sensex sinks 876 points, Nifty falls 1.11% as crude oil nears USD 109
Indian stock markets closed sharply lower on Monday as weakness in private bank stocks, disappointing corporate earnings and rising crude oil prices weighed on sentiment. The Nifty 50 closed at 22,888.95, down 1.11%, while the BSE Sensex fell 876.37 points, or 1.17%, to 73,852.90; the Nifty PSU Bank index was the only major sectoral gainer, rising 2.41%. Axis Bank fell more than 4%, while Brent crude traded at USD 108.50 per barrel, keeping concerns over imported inflation and corporate costs in focus. Analysts said markets could stay volatile as investors track earnings, oil prices and currency stability. The rupee rose for a seventh straight session to near 94.95 per dollar, but RBI reserves fell by USD 8.6 billion to USD 726 billion in the week ended October 9.
- Sensex sinks 876 points , Nifty falls 1 . 11 % as Crude oil nears USD 109
Indian stock markets closed sharply lower on Monday as weakness in private bank stocks, disappointing corporate earnings and rising crude oil prices weighed on sentiment. The Nifty 50 closed at 22,888.95, down 257.20 points or 1.11%, while the BSE Sensex fell 876.37 points (1.17%) to 73,852.90. Almost all sectoral indices fell, with only the Nifty PSU Bank index rising 2.41%, while Axis Bank dropped more than 4%. Brent crude traded at USD 108.50 per barrel, keeping concerns over imported inflation in focus. Gold was largely flat, and Asian markets were mixed, with South Korea's KOSPI up 1.73%.
- Sensex sinks 876 points , Nifty falls 1 . 11 % as Crude oil nears USD 109
Indian stock markets closed sharply lower, with the Nifty 50 down 257.20 points (1.11%) at 22,888.95 and the BSE Sensex down 876.37 points (1.17%) at 73,852.90. Selling was widespread as weakness in private banks, earnings below expectations and rising crude prices weighed on sentiment, with Axis Bank falling more than 4%. The Nifty PSU Bank index was the only major sectoral index to end higher, rising 2.41%. Brent crude traded at USD 108.50 per barrel, while the rupee firmed for a seventh straight session near 94.95 per dollar even as RBI reserves fell USD 8.6 billion to USD 726 billion in the week to October 9.
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