Sensex nosedives 500 points; Nifty tumbles below 11000 mark amid global sell-off

05 February 2018, 10:34 AM
Bombay Stock Exchange - File Photo
Bombay Stock Exchange - File Photo

The stock markets continued to bleed on Monday post the Budget announcement with the Sensex nosediving more than 500 points in the opening session.

The BSE Sensex nosedived 545 points to trade below 35,000 level while the NSE Nifty tumbled 173.80 points to 10,586.80 in opening trade amid global sell-off.

The key indices of the BSE were trading in negative as the investors were cautious that Union Budget could push up inflation and prompt the central bank to raise interest rates soon.

The key indices resumed the record-setting cycle last Monday following the upbeat economic survey tabled in Parliament ahead of the budget reiterating India would be the world fastest growing economy with GDP estimates of 7-7.5 percent 2018-19, giving fresh impetus to investor sentiment.

First Published: Monday, February 05, 2018 10:16 AM
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