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Market sell-off continues, Sensex sinks 152 points

Thursday, November 09, 2017

Falling for the second session, benchmark Sensex shed 152 points yesterday to end at an over one- week low of 33,218.81 on widespread selling in metal, oil and gas, telecom and realty sectors.

Investors locked in gains amid lingering worries of a spurt in oil prices and its impact on inflation and fiscal deficit, brokers said.

The 30-share index, after opening strong at 33,417.35, advanced to hit the day's high of 33,484.70 on the back of robust foreign fund inflows.

However, it succumbed to profit-booking in late afternoon trade and slumped to 33,157.68, before finishing at 33,218.81, down 151.95 points or 0.46%.

This is its weakest closing level since October 31, when it had ended at 33,213.13.

"Market shows signs of consolidation as investors took one step back from riskier assets due to rising oil price and the resultant impact on inflation and deficit," said Vinod Nair, Head of Research, Geojit Financial Services.

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