Sensex drops 1170 points; declining oil stocks

Mumbai, November 22 (SocialNews.XYZ) Negative global indices along with outflows of foreign funds pulled India’s major stock indexes – S&P BSE Sensex and NSE Nifty50 – into the red on Monday.

The 30-stock Sensex barometer fell sharply to 58,465 points, down 1,170.12 points or 1.96%.

Likewise, the largest 50-stock Nifty closed the day at 17,416 points, down 1.96% or 348.25 points.

He hit a low of 17,280 points.

“A moderate listing and continued weak trading of Paytm, India’s largest next-generation fintech, is a big sentimental setback for the domestic market, which was thriving in a strong primary market. This will impact the influx of money from the retail segment, which has been a key player during the year, ”said Vinod Nair, head of research at Geojit Financial Services.

“FIIs are also sellers due to fears of India being overvalued relative to its peers. The low influx of FIIs may increase due to the withdrawal of three farm laws, putting a This was a key factor in India trading at a higher price than emerging markets during the year. “

Source: IANS

Sensex drops 1170 points;  declining oil stocks

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