Stock Market Bearish After IMF Cuts India’s Growth Estimate to 4.8 Percent

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International Monetary Fund (IMF) on Monday reduced the growth estimate for India to 4.8 percent for the financial year 2019-20. Stock Market has dipped for a consecutive second day after IMF’s forecast. The Sensex dropped 205 points to close at 41,324, and the Nifty fell by 55 points to settle at 12,170 at the end of Tuesday’s trading session.

Bharti Infratel, Zee Entertainment, Bharat Petroleum, Coal India, HDFC, Kotak Mahindra Bank, and UltraTech Cement were among the top gainers on Nifty. On the other hand, Tata Steel, Tata Motors, Mahindra & Mahindra, Asian Paints, Maruti Suzuki, Indian Oil, Vedanta, and Eicher Motors were the major losers on the NSE based index on Tuesday.

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