Sensex falls over 200 points on weak global cues
The BSE benchmark Sensex fell over 200 points in early trade today following weak global cues amid fresh foreign fund outflows. The 30-share was trading 215.44 points, or 0.61%, lower at 35,259.07 points. The gauge had lost 300.37 points yesterday. Sectoral indices led by IT, teck, metal, capital goods, and power were trading in the negative zone with losses up to 2.70%.
Slow growth in US-China trade dampened sentiment, say brokers
The NSE Nifty too was trading 33.80 points, or 0.32%, down at 10,622.40. Brokers said a weak trend in other Asian markets following extended rout at Wall Street yesterday on disappointing earnings amid fears over slowing global growth on US-China trade dispute dampened sentiment. However, crude oil prices dipping to one-year low in global market on supply concerns, capped the fall in the indices.
Sinking crude-oil prices aftermath: Aviation, oil companies' shares trading higher
Shares of aviation and oil marketing companies surged due to sharp drop of nearly 7% in global crude oil prices. Shares of Jet Airways, InterGlobe and Spicejet were trading higher up to 6.59%. Shares of oil-marketing companies BPCL, IOC, and HPCL gained up to 4.21%. Brent crude, the oil prices international benchmark, fell 6.92% to $62.17 a barrel yesterday on excess supply concerns.
Losers: Infosys, TCS, Wipro, Tata Steel; Winners: Yes Bank, Airtel
Major losers were Infosys, TCS, Vedanta, Wipro, Tata Steel, RIL, Bajaj Auto, ICICI Bank, PowerGrid, L&T, NTPC, M&M, Hero MotoCorp, HDFC Bank, IndusInd Bank, and Adani Ports, falling up to 3.71%. On the contrary, Yes Bank, Asian Paints and Bharti Airtel rose up to 2.62%.
Japan's Nikkei drops 0.37%, US Dow Jones fell 2.21% yesterday
Meanwhile, Foreign Institutional Investors (FIIs) sold shares worth a net of Rs. 753.17 crore, while Domestic Institutional Investors (DIIs) offloaded shares worth Rs. 44.06 crore yesterday, as per provisional data. In Asia, Japan's Nikkei fell 0.37%, Shanghai Composite Index shed 0.13%, Korea's KOSPI fell 0.61% and Hong Kong's Hang Seng fell 0.61% The US Dow Jones Industrial Average plunged 2.21% yesterday.
