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Sensex falls 1,170 points on global cues, valuation concerns
Sensex falls 1,170 points on global cues, valuation concerns

Mumbai, Nov 23 (TIWN) Negative global cues as well as foreign fund outflows and concerns over high valuations dragged India's key equity indices -- S&P BSE Sensex and NSE Nifty50 -- deep into the red on Monday.

Monday's fall was the fourth consecutive session of slide.  In terms of global markets, the return of Covid-19 restrictions in Europe and concerns about an earlier than expected rate hike by the US Federal Reserve amid high inflation have put the investors on guard.  Besides, oil prices touched several weeks low as Japan might release supply from its reserves. On the domestic front, realty, oil and gas, consumer durables and auto have fallen the most.  Consequently, the 30-scrip Sensex fell sharply to 58,465 points, down by 1,170.12 points or 1.96 per cent.  Similarly, the broader 50-scrip Nifty closed the day at 17,416 points, down 1.96 per cent or 348.25 points. It touched an intra-day low of 17,280 points.

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