Stock markets decline almost 1 percent on weak global cues
Indian equities dropped almost 1 percent following a rout in global markets as sentiment remained downbeat on the spread of Covid in China and overnight selloff in US technology giants. The benchmark Sensex fell 537.22 points, or 0.94 percent to close at 56,819.39. The 50-share Nifty declined 0.94 percent to end at 17,038. 4.
Why it’s important: Both stock gauges in India have seesawed between gains and losses in the past few days, which adds uncertainty over the direction of the market. The volatility is expected to continue and market sentiment remains cautious.
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