Indian market: Sensex ends below 38K at 37,789.13 pts on sustained sell-off across
Mumbai, May 8 (UNI) The domestic equity markets were under pressure for the sixth straight session on Wednesday, with BSE Sensex tanking by 487.50 points to end below the 38K-level at 37,789.13 due to sell -off across-the-board amidst weaker cues from global peers as well as fall in scrips of index heavyweights such as RIL and Essel Group.
The Nifty of National Stock Exchange (NSE) too fell by 138.45 points to 11,359.45.
The Sensex opened lower by 32 points to 38,244 in the morning and remained in red throughout the day. It hit day's low at 37,743.07 points during the day, before losing at 37,789.13, down by 487 points against its last close.
The losses in sectoral indices like Energy, Realty, Health Care, Finance, Technology, Auto, Powergrid and Auto dragged the market down for another day today, along with scrips of Reliance Industries.
Shares of Reliance Industries (RIL) hit an eight-week-low and ended at Rs 1,299.45 apiece on BSE today, down over 3 per cent. The stock had lost 7 per cent over the past three trading days.
Similarly, shares of Subhash Chandra-led Essel Group companies were under pressure on Wednesday with Zee Entertainment Enterprises (ZEEL) and Dish TV India falling more than 8 per cent each on BSE.
At close, ZEEL stood at Rs 333, down 10 per cent while Dish TV India settled nearly 2 per cent lower at Rs 31.
The broader markets were also under pressure, as the S&P BSE Mid-Cap index and Small-Cap lost 0.96 per cent and 1.21 pc, respectively.
The market breadth was weaker on BSE, as 678 shares advanced against 1,809 fell and 149 were unchanged.
Elsewhere in the world, European and Asian equities tracked Wall Street's slide on Wednesday as the latest developments in the US- China trade conflict fanned fresh fears about global growth.
US stocks dropped sharply Tuesday, building on the previous day's decline after US officials confirmed that tariffs on imported goods from China could be raised by the end of the week.
US Trade Representative Robert Lighthizer reportedly said Monday that the Trump administration will increase tariffs on USD 200 billion in Chinese goods early Friday from 10 pc to 25 pc.
Chinese Vice Premier Liu He will travel to Washington for a two-day meet beginning Thursday in a last-ditch attempt to avoid a sharp increase in tariff on USD 200 billion worth of Chinese goods.
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