Sensex falls for 3rd day, trade deficit stokes fears
The Sensex plunged 181 points to end at an over three-week low on Wednesday.business Updated: Nov 15, 2017 16:18 IST
The Sensex plunged 181 points to end at an over three-week low on concerns over trade deficit that widened to an almost 3-year high.
Disappointing quarterly earnings by some blue-chip companies made investors disheartened.
The Sensex opened higher at 32,944.94, but soon turned negative before settling at 32,760.44, down 181.43 points, or 0.55%. The gauge had lost 372.69 points in the previous two sessions.
The NSE Nifty too fell sharply by 68.55 points, or 0.67%, to settle at 10,118.05. Intra-day, it hovered in the range of 10,175.45 and 10,094.
Traders said sentiment suffered a jolt as the country’s exports entered negative terrain after over an year, contracting 1.12% in October.
Trade deficit widened to almost a 3-year high of USD 14 billion last month as imports surged.
A weak trend at other Asian markets and a lower opening in Europe, spooked by sliding oil prices and doubts over US tax reforms, made mood gloomy.