Equity markets once again finished with losses as Sensex and Nifty lost half a percent each on Monday, 7 October.
30-share BSE index lost 141.33 points to close at 37,531.98, while the broader 50-share NSE Nifty finished at 11,126.40, down 48.35 points.
All the major sectoral sub-indices finished in the red, with Nifty Pharma crashing as much as 3.50 percent. Nifty Metal and Nifty PSU Bank sub-indices lost more than a percent too.
Markets opened in green in the morning session, trading above the 37,900-mark however it could not sustain the gains.
"Market has been witnessing profit-booking post the 8 per cent rally on account of corporate tax cut. The cut in repo rate by the Reserve Bank of India (RBI) did not inspire confidence to investors given sharp downgrade in GDP growth forecast," said Vinod Nair Head of Research at Geojit Financial Services.
FIIs continue to be on risk-off mode on account of global slowdown and trade issues, he said, adding that the equity market may trade with a negative bias in the short-term.
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