Samvat 2071: Sensex drops most in 4 years

The benchmark BSE Sensex fell four per cent in Samvat 2071, the most in four years. The index of blue-chip companies, however, had gained about 8.8 per cent in the initial three months of the Hindu calendar. The index failed to hold on to gains due to fears of China-led global economic slowdown and concerns around monetary tightening by the US Federal Reserve. Domestically, sluggishness in the economy and delay in corporate earnings revival weighed on investor sentiment. Market players expect next Samvat to deliver better returns, as the economy is expected to do well on the back of monetary easing by the Reserve Bank of India and reform action by the government