STOCK MARKET BSE NSE

Sensex plunges by 306.33 points on heavy selling amidst subdued global

BSE dived on Wednesday by 306.33 points to end negative at 34,344.91 due to heavy selling in sectors like Materials, Metal, Oil & Gas and Realty amidst subdued cues from global peers.

Published: 23rd May 2018 05:43 PM  |   Last Updated: 23rd May 2018 05:43 PM   |  A+A-

BSE Sensex | Reuters

Sensex falls | Reuters

By UNI

MUMBAI: The benchmark index of Bombay Stock Exchange (BSE) dived on Wednesday by 306.33 points to end negative at 34,344.91 due to heavy selling in sectors like Materials, Metal, Oil & Gas and Realty amidst subdued cues from global peers.

The Nifty of National Stock Exchange (NSE) too fell by 106.35 points to 10,430.35.

The equity market remained under pressure throughout the day.

The Sensex went up a tad by 5 points to 34,656.63 in the morning trade.

It then plunged by 349 points to touch the day's low of 34,302.89, before closing at 34,344.91, sliding by 306.33 points as compared with its previous close.

It touched the day's high at 34,668.47, up by 17 points.

The global stocks fell as investors continued to assess potential trade tensions between China and United States, possible cancellation of a June summit between United States and North Korea and a fall in commodity prices.

Heavy selling in sectoral indices like Materials, Metal, Oil & Gas and Realty dragged the market down.

Scrips of Tata Steel (by 6.57 per cent), ONGC (by 4.75 pc), Dr Reddy's Lab (by 2.92 pc), IndusInd Bank (by 2.80 pc) fell that also impacted the market sentiment.

Among the secondary barometers, the BSE Mid-Cap index fell 0.24 pc.

The Small-Cap index lost 0.47 pc.

Both these indices outperformed the Sensex.

The market breadth was weaker on BSE, as 1,127 shares advanced against 1,529 declined and 121 were unchanged.



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