PTI, Mumbai :
Further sell-off in Chinese stock market continued to give investors anxious moments as the benchmark BSE Sensex Friday lost ground by 242 points to settle at 27,366.07, its lowest close in over two months.
The index at one point was down by over 450 points, tracking a massive sell-off in Asian markets after China PMI showed that factories shrank at the fastest pace in six and a half years, heightening concerns about the health of its economy. The uncertainty over US Fed rate hike too kept sentiment fragile.
The rupee remained on a weak footing as it fell to a two-year low of 65.91 (intra-day), which led to heavy outflows by foreign investors.
This apart, simmering geopolitical tension between South and North Koreas and weakness in emerging market currencies complicated the scene.
The BSE Sensex after starting weak fell to the day’s low of 27,131.44, before ending down 241.75 points, or 0.88 per cent, at 27,366.07, its lowest closing since June 19.
At the fag end, it covered up on the back of buying after A P Shah panel on MAT recommended giving relief to foreign investors for the period prior to April 1, 2015.
The wider NSE Nifty went below the 8,300-mark, tumbling 72.80 points, or 0.87 per cent, to 8,299.95.
Intra-day, it traded between 8,225.05 and 8,322.20.
“After a persistent selling, the markets edged lower as investors fretted over weakness in global stocks due to weak Chinese manufacturing data, which added to growing concerns over China’s economic slowdown and slide in commodities prices,” said Jayant Manglik, President, Retail Distribution, Religare Securities.
Further sell-off in Chinese stock market continued to give investors anxious moments as the benchmark BSE Sensex Friday lost ground by 242 points to settle at 27,366.07, its lowest close in over two months.
The index at one point was down by over 450 points, tracking a massive sell-off in Asian markets after China PMI showed that factories shrank at the fastest pace in six and a half years, heightening concerns about the health of its economy. The uncertainty over US Fed rate hike too kept sentiment fragile.
The rupee remained on a weak footing as it fell to a two-year low of 65.91 (intra-day), which led to heavy outflows by foreign investors.
This apart, simmering geopolitical tension between South and North Koreas and weakness in emerging market currencies complicated the scene.
The BSE Sensex after starting weak fell to the day’s low of 27,131.44, before ending down 241.75 points, or 0.88 per cent, at 27,366.07, its lowest closing since June 19.
At the fag end, it covered up on the back of buying after A P Shah panel on MAT recommended giving relief to foreign investors for the period prior to April 1, 2015.
The wider NSE Nifty went below the 8,300-mark, tumbling 72.80 points, or 0.87 per cent, to 8,299.95.
Intra-day, it traded between 8,225.05 and 8,322.20.
“After a persistent selling, the markets edged lower as investors fretted over weakness in global stocks due to weak Chinese manufacturing data, which added to growing concerns over China’s economic slowdown and slide in commodities prices,” said Jayant Manglik, President, Retail Distribution, Religare Securities.
