Sensex, Nifty witness losses amid negative global cues

The Sensex and the Nifty on Thursday witnessed losses of around 1.9 percent amid negative global cues.Sensex declined below the 60,000 mark while the Nifty closed below 17,900 level.The Sensex dropped 1,159 points to close at 59,985 and Nifty 50 index tumbled 354 points or 1.94 per cent to close at 17,857. In global equity markets, Shares in Asia-Pacific  logged losses. China’s Shanghai Composite index fell 1.2 percent and Japan's NIKKEI-225 declined one percent. South Korea’s KOSPI and Singapore’s Straits Times, both slipped half a percent and Hong Kong's Hang Seng ended 0.3 percent down. European markets were also down in intra-day trade.
Oil fell around half a percent. The Brent crude prices slipped to trade below 85 dollars per barrel level. In intra-day trade, Brent crude was trading around 84 dollars and 20 cents per barrel. Back home, Gold prices fell 20 rupees at Multi Commodity Exchange for December contracts. The precious metal was trading at 47,940, rupees per 10 gram in intra-day trade. Silver also declined 130 rupees to 65,035 rupees per kilogram for December Contracts when reports last came in. In the forex market, the rupee appreciated 11 paise to close at 74 rupees and 92 paise against the US dollar.