The market saw steep fall in late trade with the Sensex
losing 244.75 points to 28799.69 and the Nifty declining 83.80 points to
8750.20. Even the broader markets snapped 10-day winning streak, falling more
than half a percent. A sudden slide in late trade took key benchmark indices
lower. The barometer index, the S&P BSE Sensex, provisionally settled below
the psychological 29,000 market. The Sensex and the 50-unit CNX Nifty, both,
hit their lowest level in almost a week.
A sudden slide during
the last 40 minutes or so of the trading session materialized after benchmark
indices reversed intraday losses in mid-afternoon trade, taking cues from gains
in European stocks. Key benchmark indices had languished in red earlier during
the trading session. The Sensex was provisionally off 288.37 points or 0.99% at
28,756.07. The market breadth indicating the overall health of the market
turned negative from positive in late trade. The CNX Nifty was down 83.80
points or 0.95% at 8,750.20.
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