In another bad day for the stock markets, The SENSEX declined by 440 points and the NIFTY fell below 9750 the first time since August 11th. The SENSEX closed at 31159.81 and the NIFTY closed at 9735.75. This marks the 7th consecutive day that the SENSEX has closed below it’s opening value which is the longest bad streak the markets have had this year. The Retail and Real Estate and Pharma sectors faced largest declines in value of 2.82% and 2.65% respectively.
Some market analysts have pointed to tensions on the Myanmar border as part of the reason behind the recent poor performance of the markets. Foreign investors have already withdrawn $777 million from the markets this month. Foreign Institutional Investors (FII) have been net sellers of Indian shares this financial year International tensions between the US and North Korea are thought to be part of the reasons behind the flight of investments from developing countries.
Sources: Yahoo finance, Moneycontrol.com edited by Karunjit Singh