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BJP debacle in Bihar pulls sensex down by 600 points
Mumbai, Nov 9 (IBNS) Shocked by BJP's electoral defeat in Bihar, the BSE Sensex slumped 600 points to fall below the psychological 26,000 mark for the first time since September 30, while the 50-share Nifty fell 180 points to 7,790 on Monday.
The rupee also took a sharp hit, falling over 1 per cent to 66.50 per dollar in morning trade.
Traders attribute the slump to BJP debacle in the Bihar Assembly election, where the party could get only 58 out of 243 seats to bit dust in the fight against the Nitish Kumar-led Grand Alliance that won 178 seats.
Analysts said Monday's sharp fall was a knee-jerk reaction and markets are likely to find a bottom soon.
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