Equity markets plunge, Sensex closes below 26,000 points

Besides, continuous outflow of foreign funds and selling pressure dragged the key domestic indices lower.

Published: 26th December 2016 04:47 PM  |   Last Updated: 26th December 2016 04:47 PM   |  A+A-


MUMBAI: The key Indian equity markets plunged on Monday, as investors were spooked by Prime Minister Narendra Modi's hint of raising taxes on income generated via stock market trade.

Besides, continuous outflow of foreign funds and selling pressure dragged the key domestic indices lower. 

The wider 50-scrip Nifty of the National Stock Exchange (NSE) dropped by 77.50 points or 0.97 per cent to 7,908.25 points.

The Bombay Stock Exchange (BSE) Sensex, which opened at 25,992.41 points, provisionally closed at 25,807.10 points (at 3.30 p.m.), down 233.60 points or 0.90 per cent from the previous day's close at 26,040.70 points.

The Sensex touched a high of 26,008.57 points and a low of 25,753.74 points during intra-day trade.

The BSE market breadth was tilted in favour of the bears -- with 2,015 declines against 583 advances.

On Friday, both the Sensex and the Nifty had closed on a flat note, as foreign fund outflows and broadly negative global indices subdued investors' sentiments.

The barometer index on December 23 inched-up by 61.10 points or 0.24 per cent to 25,959.99 points, while the NSE Nifty gained only by 6.65 points or 0.08 per cent to 7,985.75 points.


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp