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Tuesday, March 8, 2016

Markets continue to red, Sensex below 24500

Markets down by over half a percent in the late morning trade. Some recovery attempts in realty and consumer goods were sold off lacking any support from local or global events. While, Nifty has slipped below 7500 mark Sensex too has lost the important psychological 24500 level.Finance Minister Arun Jaitley’s assertion that economic growth rate is expected to increase to 7.6 percent in 2015-16. He also said that the government has taken various initiatives to boost the growth of the economy, and industrial growth in particular.
The BSE Sensex is currently trading at 24487.63, down by 171.60 points or 0.70% after trading in a range of 24451.60 and 24566.56. There were 13 stocks advancing against 17 stocks declining on the index.
Further Jaitley said that as per the International Monetary Fund, the global output growth remained positive, although it has been projected to have declined from 3.4% in 2014 to 3.1% in 2015. Recently, International Monetary Fund has projected a robust growth rate of 7.3 percent for the country this fiscal, picking up to 7.5 percent next year.Most of the Asian markets were trading in red barring KOSPI Index, which was tad higher by 1.63 points or 0.08% to 1,947.75