Home Economics Impact of global banking crisis, Sensex fell by 361 points

Impact of global banking crisis, Sensex fell by 361 points

The impact of global banking crisis is visible on the markets of India. Both Sensex and Nifty closed on the red mark at the end of trading on Monday. The 30-share BSE Sensex ended 360.95 points, or 0.62 per cent, lower at 57,628.95, as 23 of its shares declined. The index fell over 900 points to touch a low of 57,084.91 before finally recovering some losses.

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On the other hand, the Nifty closed 111.65 points or 0.65 per cent below the 17,000-mark at 16,988.40. 40 Nifty stocks declined while 10 closed with gains.

Monday morning started in the same way. The Sensex was up 482.27 points or 0.83 percent at 57,507.24 and the Nifty was up 147.45 or 0.85 percent at 16,952. Was on 95 points.

Bucking the trend, Hindustan Unilever was the biggest gainer in the Sensex pack, rising 2.45 per cent. After this, ITC, Kotak Bank, Sun Pharma and Nestle also closed with gains. At the same time, a long list of losers was seen. Bajaj Finserv declined the most by 4.08 per cent. Bajaj Finance declined 3.01 per cent, Tata Steel 2.2 per cent, Wipro 2.09 per cent, Tata Motors 1.96 per cent, IndusInd Bank 1.9 per cent, SBI 1.75 per cent, Tech Mahindra 1.66 per cent and HCL Tech 1.2 per cent.

A similar effect was seen in foreign markets as well. The Hang Seng in Hong Kong lost 2.7 per cent, the Nikkei 225 in Tokyo lost 1.4 per cent, the Shanghai Composite index lost 0.5 per cent, while the Kospi in Seoul fell 0.7 per cent.

The FTSE 100 in London lost 1.6 percent, the DAX in Frankfurt lost 1.4 percent and the CAC 40 in Paris lost 1.2 percent. Switzerland’s benchmark stock index fell 1.8 per cent as Credit Suisse fell 63 per cent and UBS fell 14 per cent.

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