Sensex Slumps to 36,500, Nifty Drops Below 10,800

New Delhi, September 4, 2019:

Nifty and Sensex, the benchmark stock market indexes of the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), dropped 10.30 points or 0.095 percent to 10,787.60 and 72.88 points or 0.20 percent to 36,490.03 respectively.

NSE and BSE crashed after the recent drop in the country’s economy to 5 per cent, the lowest in six years. This has been the biggest fall for both the indexes according to analysts.

The S&P BSE Sensex dropped 770 points or by 2 per cent to settle at 36,563 and the NSE Nifty 50 index dropped 225 points or 2 per cent to close at 10,798.

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About Rs. 2.56 lakh crore worth investment was wiped out after the BSE and NSE fall.

Experts opine that India’s declining economic growth along with increasing US-China trade frictions have affected the market.

India’s currency also dropped close to 97 paise on Tuesday. It hit a low of 72.37 against the US dollar, its lowest level in 2019. According to analysts, weak Gross Domestic Product, US-China trade war and a strengthening US dollar have added on to the fall.

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