BENCHMARK EQUITY INDICES recorded their biggest single-day loss in three months on Monday as a barrage of bad news hit investor sentiment. Concerns over the human metapneumovirus (HMPV) virus, disappointing third-quarter business updates from banks and the uncertainties surrounding new US economic policies were the key headwinds. The fall in the ITC stock due to the hotel business spinoff contributed as much as 25% to the Sensex's decline.
As a result, both the Sensex and Nifty closed down 1.59% (1,258.12 points) and 1.62% (388.70 points), respectively. With Monday's fall, the benchmark indices have fallen 2.5% in the past two trading sessions, wiping out the 2.3% gains in the first two days of the calendar year.
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