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Indian benchmark indices fall for two consecutive days

India blooms News Service | | May 03, 2016, at 09:28 pm

#Indian benchmark # Benchmark

Mumbai, May 3 (IBNS) At the close of business on a volatile trading day on Tuesday, the Indian benchmarks could not halt their downward spiral seen on Monday, and the Sensex fell 207.27 points to 25229.70 and the Nifty went down 58.90 points to 7,747.

The news that the International Monetary Fund (IMF) has said that Chinese and Japanese economies are expected to slow sharply over the next two years affected the Indian market.

Weak factory data from China also affected global market sentiments.

Although weak exports and sluggish credit growth weigh on the Indian economy, the IMF reiterated its growth forecast for India this year at 7.5 per cent, largely based on private consumption trends.

Some of the leading gainers on Tuesday were Bharti, HDFC, Tata Steel, Tata Motors and L&T while the losers included Coal India, BHEL, Lupin, ICICI Bank and TCS.

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