Sensex ends 189 points down on European debt crisis
19 Sep 2011
Indian equity benchmarks fell over 1% on first day of the week led by fall in global markets post European Union finance ministers failed to come out with any solution over the weekend's meeting and even rejected Tim Geithner's plan (tax on financial transactions). The 30-share BSE Sensex slipped 188.48 points, to close at 16,745.35 and the 50-share NSE Nifty fell 52.30 points, to end at 5,031.95.
Ajay Srivastava chief executive officer of Dimensions Consulting expects Nifty to test the 4,750 levels again.
Anil Singhvi, chairman of Ican Investment Advisors told CNBC-TV18 said that Europe continues to be a major concern and companies with operations there will face difficulties.
Among European markets, France's CAC and Germany's DAX fell 3% each; Britain's FTSE was down over 2%. Next bailout tranche to Greece delayed also disappointed investors. The Dow Jones and Nasdaq futures slipped 1.5% each.
Srivastava feels more eyes are on what will happen in Greece instead of FOMC meeting.
Asian peers too extended losses in late trade; Hang Seng closed down 2.76% and Shanghai dropped 1.8%. Straits Times, Kospi and Taiwan were down over 1%.