MUMBAI: The sensex fell by another 314 points on Thursday as HDFC Bank again led the slide with a 3.3% loss. The index has lost nearly 1,950 points or 2.7% in two sessions while HDFC Bank has lost more than 11% of its value in the same period as investors lose confidence over the quality of its earnings. The sensex, after falling to an intraday low at 70,666 points, closed at 71,187, down 314 points or 0.4%.
In Thursday’s session, a lower overnight closing on Wall Street also weighed on the sentiment of domestic investors, market players said. With US monthly consumer inflation numbers again showing an upward trend, fund managers and analysts are now less confident about an aggressive cut in interest rates by the US Federal Reserve than earlier. That is the main reason for the recent slide in the stock market there and the rise in gilt yields.
In two sessions, FPIs have net sold nearly Rs 20,500 crore worth of Indian stocks.
In Thursday’s session, a lower overnight closing on Wall Street also weighed on the sentiment of domestic investors, market players said. With US monthly consumer inflation numbers again showing an upward trend, fund managers and analysts are now less confident about an aggressive cut in interest rates by the US Federal Reserve than earlier. That is the main reason for the recent slide in the stock market there and the rise in gilt yields.
In two sessions, FPIs have net sold nearly Rs 20,500 crore worth of Indian stocks.
