Sensex closes at two-week low, Nifty sheds 0.54%, Tata Motors, Wipro, L&T top losers
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Mumbai: The benchmark Sensex tumbled over 166 points on Monday to close at a two-week low of 31,096 as investors remained on the sidelines ahead of key macroeconomic data amid weakness in global peers. Capital goods, banking and consumer durables were in a spot of bother.
The Sensex resumed lower and dropped further to 31,044.28 due to heavy selling pressure in view of foreign capital outflows and lower global cues before closing at 31,095.70, a loss of 166.36 points, or 0.53%. This is the lowest since 26 May when it ended at 31,028.21.
The gauge had gained 48.70 points in the previous session on Friday.
The 50-issue NSE Nifty ended 51.85 points, or 0.54%, at 9,616.40 after cracking below 9,600 mark to touch a low of 9,598.50. Sentiments was dampened by global cues after polls in the UK threw up a hung Parliament and markets await the results of the first round of France’s parliamentary elections.
There was also caution ahead of this week’s US Federal Reserve policy meeting.
Offloading of positions by participants ahead of key economic data—industrial production (IIP) for April and consumer price index (CPI) inflation for May—to be released after market closing on Monday contributed to the weak sentiment.