Sensex Drops 186 Points On Weak China Data, U.S. Stimulus Cut Fears


Mumbai: The benchmark Sensex fell for the first time in five days to end about 186 points lower today on broad-based selling after global markets slipped amid downbeat Chinese manufacturing data and fears of more U.S. stimulus cuts.

After gaining nearly 530 points in the past four sessions, the Sensex dropped 186.33 points, or 0.90 per cent, to 20,536.64 as recent gainers in the banking, metal and oil & gas packs ended in the red.

Just six constituents like Dr Reddy’s and Bajaj Auto of the 30-share Sensex managed to end up. ICICI Bank, Bharti Airtel and Tata Steel led the 24 laggards in the bluechip index, which had yesterday closed near one-month highs.

The 50-scrip NSE index Nifty dropped 61.30 points, or one per cent, to end at 6,091.45. In the past four days, it had gained over 150 points.

Global stocks witnessed a volatile session after HSBC and Markit Economics said their index of Chinese manufacturing fell to 48.3 from January’s final figure of 49.5. A number below 50 indicates contraction.

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Source: PTI