Sensex slips below 26K, down over 200 points; Nifty tests
7,900
The S&P BSE Sensex slips over 200 points in trade on
Monday following muted trend seen in other Asian markets. The fall in the index
was led by losses in RIL, ICICI Bank, HDFC, Axis Bank, and SBI. The 50-share Nifty index slipped below its crucial psychological level of 7,950, and was trading near its crucial support level of 7,900, weighed down by losses in metal, realty, consumer durable, and FMCG stocks.
The rupee depreciated 19 paise to 65.86 against the US
dollar in early trade on Monday. The domestic currency had closed at 65.67 on
Friday, logging its biggest daily gain in two years on Friday, following the US
Federal Reserve decision to maintain its ultra-low interest rate regime for
some time.
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