BSE Reacts to Urijit Patel Appointment, Tumbles Almost 100 Points

Heavy selling was witnessed in IT, technology, media and entertainment and automobile stocks.

NSE Nifty slipped 37.75 points or 0.44 percent to 8,629.15 points. (Photo: Reuters)

• Reacting to the government’s decision to appoint Urijit Patel as the new Reserve Bank of India governor, equity markets on Monday witnessed heavy selling as the NSE Nifty slipped 37.75 points or 0.44 percent to 8,629.15 points while Bombay Stock Exchange closed at 27,985.54 points – down 91.46 points or 0.33 percent.
  
  
• Heavy selling was witnessed in information technology (IT), technology, media and entertainment (TECK) and automobile stocks.
  
  
• On Friday, the benchmark indices had closed flat – marginally in the red – due to profit booking and negative global cues. The BSE had receded by 46.44 points or 0.17 percent, while the NSE Nifty slipped by 6.35 points or 0.07 percent.
  

(With IANS inputs)

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