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Nifty falls 1 percent on Trump's visa comments, soaring crude
December 12, 2016 / 6:58 AM / 9 months ago

Nifty falls 1 percent on Trump's visa comments, soaring crude

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, November 9, 2016. REUTERS/Danish Siddiqui/Files

REUTERS - The NSE Nifty fell 1.1 percent on Monday, snapping two session of gains, as information technology stocks were hit by tough talk on visas by U.S. president-elect Donald Trump, while oil retailers declined after crude prices surged to their highest since mid-2015.

Sentiment was also weakened by continued uncertainty about the impact on the economy and corporate profits from the cash shortage sparked by the country’s demonetisation drive.

The broader Nifty fell 1.1 percent to 8,170.80, while the benchmark BSE Sensex closed 0.87 percent lower at 26,515.24.

Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Subhranshu Sahu

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