The Benchmark BSE Sensex tumbled 469.52 points to close at 26,370.98; NSE Nifty cracked 8,000-mark by falling 159.10 points to 7,965.35. Here are top 4 reason why the Indian market delivered on of its worst performance today:
#Investors have turned cautious ahead of Index of Industrial Production (IIP) data for April and Consumer Price Index (CPI) data for May scheduled to be released tomorrow.
#Faltering monsoon added to the market’s gloom: Investors are concerned that a weak monsoon may delay further interest rate cuts by the Reserve Bank of India
#Worry over Narendra Modi-led government taking populist measures on land acquisition in the Parliament.
#Amid worries over slow reforms and retrospective taxes, overseas investors have sold nearly $112 million worth of cash shares in June so far, adding to the $902.38 million worth shares sold in the previous month, depository and exchange data showed.