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Sensex Drops 174 Points, Nifty Settles At 10,301: 10 Things To Know
09 Oct 2018, 04:06 PM IST 
Sensex, Nifty today: Fourteen out of 30 Sensex stocks finished the session in the red.
- Market sentiment dampened on concerns about foreign fund outflows and a global economic slowdown.
- The International Monetary Fund (IMF) has lowered its global economic growth forecasts for 2018 and 2019, saying trade tensions and rising import tariffs were taking a toll on commerce while emerging markets struggle with tighter financial conditions and capital outflows.
- It also lowered its growth projection for India citing external factors. The IMF lowered the growth projection made in July for next year by 0.1 per cent to 7.4 per cent, which would still be the world's fastest growth rate for major economies.
- Top laggards on the 50-scrip Nifty index were Tata Motors, Titan, Hindustan Petroleum, Eicher Motors and Asian Paints, closing between 4 per cent and 13 per cent lower.
- The rupee reversed all of its gains against the US dollar to hit a lifetime low of 74.27 amid high volatility.
- "Markets lost all early gains during the day and continued to be weighed down by rupee approaching close to 75 to a dollar due to trade war between US and China," Viral Berawala, CIO of Essel Mutual Fund, told NDTV.
- Tata Motors shares declined - the top drag on both the indices, after the company's unit Jaguar Land Rover (JLR) reported a fall in sales for September.
- Shares of state-run oil marketing companies HPCL, BPCL and IOC closed between 1.7 per cent and 4.3 per cent lower, after global crude oil prices again rose.
- Brent - the international benchmark for crude oil - traded above the $84 per barrel mark on Tuesday, not far from a four-year high of $86.74 registered last week.
- Analysts will watch India Inc earnings announcements, with IT software services exporter Tata Consultancy Services (TCS) due to release its quarterly report card on October 11. (With inputs from agencies)