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Sensex down 267 points on oil worryline




 Equities today sank the most in six weeks as the Sensex crashed 267 points to settle below 30,000 while the Nifty climbed down from an all-time high after global weakness due to a renewed slide in crude prices.

     In the process, the 30-share Sensex wiped off all its gains of yesterday. It hit a low of 29,823.60 before ending at 29,858.80, down 267.41 points, or 0.89 per cent, its biggest single day fall since March 22 when it had lost 317.77 points.

     The index had risen 231.41 points in the previous session on the back of optimism that the new NPA framework will give more teeth to the RBI to tackle the burgeoning bad loans. The market also welcomed reforms in the infrastructure space in the form of the New Steel Policy as announced by the Cabinet.

          The 50-issue NSE, which surpassed its previous record of 9,367.15 during the day, closed lower by 74.60 points, or 0.80 per cent, at 9,285.30, as investors took profit off the table.

     On a weekly basis, both -- the Sensex and the Nifty -- logged losses of 59.60 points, or 0.19 per cent, and 18.75 points, or 0.20 per cent, respectively, for the first week of

May.

          Oil hurtled down to a five-month low of USD 43.76 a barrel in New York on Friday. Sentiment soured, in line with a sluggish trend in global markets following the drop in crude and fresh fall in commodities, including base metals, sparking concerns about the health of the global economy.







Editorial

Précis 2017
From asking his party men to ‘live a simple life and serve the people’ to taunting the BJP for its ‘crocodile tears’, Chief Minister and BJD supremo Naveen Patnaik has not only become politically invincible, he seems to be so in the coming years too.

National

* India successfully test-fires supersonic interceptor missile

International

* Support for terrorism to be stopped: India at UN

Business

* Dalmia DSP launches new TV campaign

Entertainment

* Sudhir Mishra's 'Daasdev' set to arrive on February 16

Interview

* “Nalco to invest Rs 35,000 cr in Odisha, good governance key to company’s success”

Leisure

* Tata Steel Bhubaneswar Literary Meet from Jan 11
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