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Sensex slumps more than 500 points, Indian market continues to wobble

by IBNS 03 Sep 2015, 08:45 pm

Mumbai, Sept 4 (IBNS) Amid continued selloff from foreign investors, the Sensex fell over 570 points to 25,193 while Nifty fell to 7,639 in the first half of Friday- their lowest level in 13 months.

Market reports said  BSE Sensex and Nifty fell over 2 per cent as traders  remained wary of taking positions ahead of the crucial US jobs data which will be released later in the day. 

The selloff from foreign investors comes despite the government earlier this week announcing relief to foreign investors on minimum alternative tax.

Besides worries over global economy, concerns over slowdown in Indian economy, pace of reforms and weak monsoon have weighed on the market sentiment.