Big fall in Stock Market


Mumbai: Profit-booking, reform worries trip two-day winning streak in stock market.The benchmark BSE Sensex tanked nearly 630 points due to heavy selling by funds and retail investors ahead of the release of IIP and inflation data later in the day. Stocks across the board declined on worries that key land acquisition and tax reforms would be delayed further. Further delays in the passage of land acquisition and GST bill and intra-day depreciation in rupee by nearly 41 paise to 64.26 against US Dollar also weighed on the sentiments.

According to brokers, a weak trend in global markets with lingering concerns over Greece debt situation and sell-off in bond markets too dampened the trading sentiment. The 30-share BSE index Sensex tumbled 629.82 points or 2.29 per cent at 26,877.48 and the 50-share NSE index Nfity plunged 198.30 points or 2.38 per cent at 8,126.95. All BSE sectoral indices ended significantly in the red. Among them, realty index fell the most by 3.3 per cent, followed by power 3.12 per cent, capital goods 3.1 per cent and banking 3.09 per cent.