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Sensex loses 1,159 points, 60,000 outside the mount;  Nifty gives up 17,900

Indian stock indexes suffered big losses Thursday before the expiration of monthly derivatives and as Morgan Stanley downgraded India’s rating citing costly valuations. Massive sell-offs driven by heavy losses in financials and IT stocks dragged the market down.

The Sensex fell 1,158.6 points or 1.9% to end at 59,984.7 and the larger Nifty50 gave up 353.7 points or 1.9% to settle at 17,857.3.

The Bank Nifty Index fell 3.3%, further moving away from recent highs.

Adani Ports, ITC, ONGC, Kotak Mahindra Bank, ICICI Bank, Coal India, Axis Bank and Cipla – closing between 3.5% and 7.4% down – were the most affected among the 44 laggards in the Nifty50 universe .

Among the six winners were IndusInd Bank, L&T, UltraTech and Asian Paints, finishing between 1.1% and 2.6% higher.

(This copy will be updated shortly)

(Edited by : Sandeep Singh)

First publication: STI



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