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Sensex, Nifty dip Post Telugu Desam Party’s Withdrawal From National Democratic Alliance

Market indices fell sharply in Friday morning trade, after the Telugu Desam Party (TDP) pulled out of the National Democratic Alliance (NDA).

The BSE’s Sensex fell 244.83 points to 33,440.71, while the Nifty traded at 10,303.10.

Among sectoral indices, Nifty Metal incurred maximum loss, followed by FMCG, auto, bank and IT.

Meanwhile, the Indian Rupee gained two paise, trading at Rs. 64.91 for one US dollar.

Earlier in the day, Andhra Pradesh Chief Minister Chandrababu Naidu post a tele-conference with his party members announced that the TDP would step back from the NDA.

Furthermore, the party said they would move a no-confidence motion against the Centre in Parliament, today.

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