Stock market in India plunged sharply on Thursday. The NSE Nifty managed to close above the psychological 6000 mark. During the day, the Nifty breached the critical level for the first time since February 6, led by heavy selling in scrips across the sectors.
Barring the BSE Realty index all the other major sectoral indices on the BSE ended in the red. Today’s decline was led by the banking, capital goods, oil and gas, power and the healthcare index.
Sentiment was dampened after the industrial production growth rate remained in the negative zone for the third month in a row, contracting 0.6% in December 2013. The manufacturing segment, which contracted 1.6% during the month, has a weight of over 75% in the index of industrial production (IIP), and has contracted for most part of the current fiscal. On the other hand, Inflation, as per the consumer price index, dropped to 8.79 percent in January from 9.87 percent in December.
Meanwhile, the ruckus in Parliament prolonged, as The Lok Sabha erupted in mayhem on Thursday when a lawmaker fired pepper spray in parliament in protest against a bill on a new Telangana state.
Finally, BSE Sensex closed at 20,193 down 255 points, while NSE Nifty closed at 6,001 down 83 points over the previous close.
Barring the BSE Realty index all the other major sectoral indices on the BSE ended in the red. Today’s decline was led by the banking, capital goods, oil and gas, power and the healthcare index.
Sentiment was dampened after the industrial production growth rate remained in the negative zone for the third month in a row, contracting 0.6% in December 2013. The manufacturing segment, which contracted 1.6% during the month, has a weight of over 75% in the index of industrial production (IIP), and has contracted for most part of the current fiscal. On the other hand, Inflation, as per the consumer price index, dropped to 8.79 percent in January from 9.87 percent in December.
Meanwhile, the ruckus in Parliament prolonged, as The Lok Sabha erupted in mayhem on Thursday when a lawmaker fired pepper spray in parliament in protest against a bill on a new Telangana state.
Finally, BSE Sensex closed at 20,193 down 255 points, while NSE Nifty closed at 6,001 down 83 points over the previous close.
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