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Indian stock markets slide on global concerns

India Blooms News Service | | Jan 07, 2016, at 10:30 pm

Mumbai, Jan 7 (IBNS) Sharing the fear gripping the Asian markets, Indiaâ€™s stock market too closed on a sour note on Thursday with the BSE Sensex and the NSE Nifty dipping for the fourth consecutive day and notching up their four-month low largely due to upheavals in the Chinese market.

The BSE Sensex fell 554.50 points to 24,851.83. NSE Nifty fell 172.70 to 7,568.30.

Earlier on Thursday, the Indian market opened on a gloomy note following a weak yuan, the China market crash and weak global sentiments.

The China stock market had closed within half an hour of opening when shares fell by more than seven per cent. The circuit breaker tripped for the second time during the week.

Indian metal stocks faced strong selling pressure on the fear that a depreciating yuan will make imports cheaper.

Some of the leading BSE Sensex stocks that declined on Thursday were BHEL, Tata Steel, Tata Motors, Axis Bank and ONGC.

Bharti Airtel, from the NSE Nifty basket, was a gainer.

About 690 shares advanced, 2,188 shares declined, and 94 shares were unchanged, according to moneycontrol.com.

#global concerns # Indian stock markets # Stock Markets

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