Sensex records biggest decline since December

Mumbai, March 22 

In its biggest single-day fall in over three months, the BSE Sensex today plunged by 318 points to close at a nearly two-week low of 29,167.68 as investors cut down exposure amid weak global cues.

Consumer durables, auto, FMCG, metal and banking stocks fell the most, while a depreciating rupee against the US dollar also weighed on sentiments.

The NSE Nifty also slipped below the 9,100-mark, as the markets remained on a downward path for the third day.

Brokers said the mood was downcast after reports suggested India’s GDP may grow at a slower rate of 6.7% in the current quarter, while cues were negative from the global markets where investors remained cautious following the news of North Korea failing a nuclear test and developments on the US President Donald Trump’s tax cut probability.

Bharti Airtel suffered the most by diving 3.18% to Rs 338.50. — PTI