New Delhi: Indian equity markets closed in negative territory on Tuesday (January 21) and registered a seven-month low due to an across-the-board selloff triggered by global tariff war worries and persistent foreign fund outflows.
As a result, investors became poorer by rupees seven lakh crore, reported The Tribune.
While the BSE Sensex plummeted 1,235.08 points to settle at 75,838.36, mainly because of losses in ICICI Bank and Reliance Industries, the NSE Nifty fell 320.10 points or 1.37 to close at 23,024.65, lowest since June last year.
Market experts said that the lack of clarity on the economic decisions of new US President Donald Trump had an impact on the markets.
Meanwhile, the Indian rupee fell further and closed at 86.577 per US dollar.
“Persistent dollar buying from foreign portfolio investors and local oil companies put further pressure on the rupee,” a currency dealer with a state run bank said, reported The Economic Times.
The rupee, which had recently breached the 86 per dollar mark, further tumbled after US President Donald Trump said that he was thinking of imposing tariffs on Canada and Mexico.
