Indian equity benchmarks erase 2016 gains on Monday
BSE Sensex was down 385.10 points at 25765.14, recording its sixth consecutive session of decline and its longest losing streak since March 2015, according to media reports.
The NSE Nifty was down 145 points at 7,929.10, its lowest close since May 25.
The market remained downbeat on concerns over economic and earning growth following the demonetisation as well as the consistent outflow of funds on fears of likely Fed rate hike in December policy, the media reported.
Key stocks that gained on Monday were Wipro,TCS,Sun Pharma, Reliance and ONGC while some of the key stocks that declined were SBI, Bank of Baroda, Power Grid, Tata Steel, Hindalco, Maruti and M&M.
While India is yet to see a turnaround from the daily demonetisation woes, the Union government, on Monday,has said that farmers can now purchase seeds for the current Rabi season crops with banned rupees 500 currency from select outlets.
Image: Wikimedia Commons
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