Sensex shrugs off positive GDP numbers, sinks 137 pts

March 01, 2018 16:21

The benchmark BSE Sensex dropped by over 137 points today to close at 34,046.94 as global sell-off triggered by US Fed rate hike fears rode roughshod over the positive economic growth data for the third quarter. Banking stocks, particularly state-run were among the biggest laggards on unabated nervous off-loading by participants amid growing concerns over a spate of fraud cases. Select auto stocks, however, were in some demand on the back of encouraging February sales numbers.

The 30-share benchmark, after scaling a high of 34,278.63 in early deals, slipped into the negative zone to touch 34,015.79, before settling at 34,046.94, down 137.10 points, or 0.40 per cent. The 50-issue NSE Nifty too lost 34.50 points, or 0.33 at 10,458.35 after shuttling between 10,525.50 and 10,447.15. -- PTI

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