Sensex tanks 572 points on global equity meltdown

All sectoral indices on the BSE and NSE ended in the red, led by metal, oil and gas, pharma and financial stocks.

Published: 06th December 2018 04:44 PM  |   Last Updated: 06th December 2018 04:44 PM   |  A+A-

sensex_ stock exchange

File Image of BSE Sensex. (File | Reuters )

By PTI

MUMBAI: Benchmark equity indices cracked for the third consecutive session Thursday on negative global cues, weak rupee and sustained selling by foreign as well as domestic institutional investors.

The BSE Sensex plunged 572.28 points, or 1.59 per cent, to close at 35,312.13.

Similarly, the broader NSE Nifty fell 181.75 points, or 1.69 per cent, to 10,601.15.

All sectoral indices on the BSE and NSE ended in the red, led by metal, oil and gas, pharma and financial stocks.

According to analysts, global markets were in a risk-off mode due to fresh flare-up of tensions between China and the US.

Oil prices are inching up on expectation of production cuts by Russia and Opec, weakening rupee further.

The rupee was trading 36 paise lower at 70.82 against the US dollar intra-day.

The currency fell to an intra-day low of 71 per dollar mark amid strengthening American currency and weak domestic equity market.

Oil prices extended losses ahead of the crucial Opec meeting.

Brent crude, the international benchmark, was trading 1.82 per cent lower at USD 59.74 per barrel.

Top losers in the session included Maruti, Tata Motors, Reliance Industries, Yes Bank, Adani Ports, Bharti Airtel, Asian Paints, ONGC, HUL, Kotak Bank, IndusInd Bank and Axis Bank, falling up to 5 per cent.

Sun Pharma was the sole gainer on the Sensex, rising 1.57 per cent.

On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 357.82 crore Wednesday, and domestic institutional investors (DIIs) were net sellers to the tune of Rs 791.59 crore, provisional data available with BSE showed.

Elsewhere in Asia, Korea's Kospi fell 1.55 per cent, Japan's Nikkei dropped 1.91 per cent, Hong Kong's Hang Seng shed 2.47 per cent and Shanghai Composite Index fell 1.68 per cent.

In Europe, Frankfurt's DAX shed 2.36 per cent and Paris' CAC 40 fell 2.21 per cent in early deals.

London's FTSE too slipped 2.50 per cent.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp