Sensex tumbles 204 points; Nifty ends below 11,200

16/05/2019

Mumbai: The BSE Sensex ended 203.65 points lower after a volatile session Wednesday as investors took money off the table amid mixed global cues.
After gyrating over 500 points, the 30-share BSE benchmark closed 203.65 points, or 0.55 per cent, lower at 37,114.88. The index hit an intra-day low of 37,047.87 and a high of 37,559.67.
Similarly, the broader NSE Nifty shed 65.05 points, or 0.58 per cent, to settle at 11,157. During the day, the gauge hit a low of 11,136.95 and a high of 11,286.80.
Yes Bank and Tata Motors were the biggest losers in the Sensex pack, slumping 8 per cent.
IndusInd Bank, Coal India, Sun Pharma, PowerGrid, Bharti Airtel, Axis Bank, Tata Steel, HUL, Maruti, L&T, M&M, ICICI Bank, HDFC and RIL too ended in the red, shedding up to 3.66 per cent.
On the other hand, Bajaj Finance was the top gainer, spurting 4.11 per cent, followed by ITC, Kotak Bank, Infosys and TCS, ending up to 1.05 per cent higher.
According to experts, investors are not very aggressive as every rally is being used as an opportunity to book profits. Market is also watchful of quarterly earnings and election verdict.
Sustained foreign fund outflow too weighed on investor sentiment, they added.
Foreign institutional investors net sold equities worth Rs 2,011.85 crore on Tuesday, while domestic institutional investors purchased shares to the tune of Rs 2,242.91 crore, provisional data available with stock exchanges showed.
Bourses in China, Japan and Korea ended in the green after US President Donald Trump hinted at the possibility of a trade deal with China.
European stocks, however, opened on a weak note.
Meanwhile, the Indian rupee appreciated by 11 paise to 70.33 against the US dollar intra-day.
Global oil benchmark Brent crude was trading 0.66 per cent lower at USD 70.77 per barrel.

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