Markets crash over Bihar Results, BSE Sensex down 144 Points

Mumbai, Nov 9: Investor sentiments were subdued on Monday, a day after the BJP-led coalition suffered a rout in the Bihar assembly polls.

This led a barometer index of the Indian equities to provisionally close 144 points or 0.55 percent down on Monday. Both the indices of the Indian equities markets, which opened in the negative territory, plunged by almost two percent each in the initial trade session.

Notwithstanding the slide, both the bellwether indices recovered their lost ground on the back of recent reforms measures announced for the power and banking sector. Bargain hunting too brought back investors. However, the negative impact of the defeat of the Bharatiya Janata Party (BJP)-led combine in Bihar sustained throughout the day’s trade.

The BJP is considered to be more business and reform friendly.  The Bihar election outcome was widely seen as a popularity test for the central government. On Monday, the wider 50-scrip Nifty of the National Stock Exchange (NSE) too receded. It was lower by 39.10 points or 0.49 percent at 7,915.20 points.

Similarly, the 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE) plunged in the day’s trade.
The S&P BSE Sensex, which opened at 25,809 points, provisionally closed at 26,121.40 points (at 3.35 p.m.), down 143.84 points or 0.55 percent from the previous day’s close at 26,265.24 points. The Sensex touched a high of 26,193.17 points and a low of 25,656.90 points in the intra-day trade.  (IANS)