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Sensex, Nifty fall ahead of Budget amid global weakness; ONGC falls 4.6%

Sensex declines over 1,000 points in two days

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The Sensex ended at 48,564, while the Nifty fell 152 points, or 1.1 per cent to close at 14,281, breaching the key technical support of 14,300. Both the indices had ended at their record highs on Thursday

BS Reporter Agencies

4 min read Last Updated : Jan 18 2021 | 11:28 PM IST

The benchmark Sensex fell 470.4 points on Monday, extending its two-day slide to 1,020 points, or 2.1 per cent. Concerns over the pace of economic recovery amid a strong second wave of infections globally is prompting investors to scale back bullish bets, say experts. Also, rising US bond yields and strengthening of the greenback have raised concerns of pushback from foreign investors.

Experts said many investors are opting to book profits ahead of the Union Budget on fears that the Centre will raise taxes to boost income hit by the Covid-19 pandemic.

The Sensex ended at 48,564, while the Nifty fell 152

Topics : Markets Sensex Nifty Budget 2021 stock market trading stock market United States Indian Economy ONGC

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