Sensex nosedives over 1,100 pts; Nifty below 14,650.
US President Joe Biden’s campaign for a $1.9-trillion Covid-19 relief plan took a move ahead when the US House of Representatives Committee released bills that Democrats expect to enact by late next week. The hope of improvement triggered global funds to reallocate their portfolio weightage back to the US by reducing the exposer in the overstretched emerging market. This led to profit-booking, and the market break below the critical level of 14,750.
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