Zee Media Bureau
Extending their last week downslide, the benchmark BSE Sensex dips below the psychological 25,000-mark and the NSE Nifty cracked the 7,600 level in early trade Monday.
Markets have witnessed just a day of gains straddled by eight days of oversold position. Last week both the benchmark indices -- BSE Sensex and NSE Nifty -- ended with losses of over 2 percent due to intense selling pressure.
Here are the 6 key reasons why Sensex is witnessing sustained downslide:
1. Lingering uncertainty over the passage of GST Bill in the ongoing winter session of Parliament.
2. Sustained selling by participants amid a weak trend in other global markets ahead of the US Federal Reserve's hotly-anticipated meeting this week which probably will hike interest rates. Also Watch:
3. Global oil prices continued to retreat to multi-year lows, dampened the trading sentiments further.
4. Continuous fall in rupee also added to selling pressure: The rupee again fell past the 67-mark against the dollar in early trade on Monday at the Interbank Foreign Exchange, mainly on strong demand for the American unit from importers and some banks.
Also Read: Key reasons why the rupee is falling
5. China's economic crisis
6. Poor Q2 earnings
