Sensex falls over 200 points in early trade on weak global cues; aviation, OMC stocks surge

Sensex was trading 215.44 points, or 0.61 percent, lower at 35,259.07 points.

Press Trust of India November 21, 2018 10:15:26 IST
Sensex falls over 200 points in early trade on weak global cues; aviation, OMC stocks surge

Mumbai: The BSE benchmark Sensex fell over 200 points in early trade Wednesday following weak global cues amid fresh foreign fund outflows. The 30-share was trading 215.44 points, or 0.61 percent, lower at 35,259.07 points. The gauge had lost 300.37 points Tuesday.

Sectoral indices led by IT, tech, metal, capital goods and power were trading in the negative zone with losses up to 2.70 percent.

The NSE Nifty too was trading 33.80 points, or 0.32 percent, down at 10,622.40.

Brokers said a weak trend in other Asian markets following extended rout at Wall Street Tuesday on disappointing earnings amid fears over slowing global growth on US-China trade dispute and the steady rise in interest rates, dampened sentiment here. However, crude oil prices dipping to one-year low in global market on supply concerns, capped the fall in the indices.

Sensex falls over 200 points in early trade on weak global cues aviation OMC stocks surge

Representative image. Reuters

Shares of aviation and oil marketing companies surged due to sharp drop of nearly 7 percent in global crude oil prices. Shares of Jet Airways, InterGlobe and Spicejet were trading higher up to 6.59 percent.

Shares of state-run oil marketing companies such as BPCL, IOC and HPCL gained up to 4.21 percent.

Brent crude, the oil prices international benchmark, fell 6.92 percent to $62.17 a barrel on Tuesday on excess supply concerns.

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 percent.

On the other hand, Yes Bank, Asian Paints and Bharti Airtel rose up to 2.62 percent.

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 Tuesday, as per provisional data.

In Asia, Japan's Nikkei fell 0.37 percent, Shanghai Composite Index shed 0.13 percent, Korea's KOSPI fell 0.61 percent and Hong Kong's Hang Seng fell 0.61 percent

The US Dow Jones Industrial Average plunged 2.21 percent Tuesday.

Updated Date:

also read

PM Modi urges citizens to participate in e-auction of memorabilia gifted to him
India

PM Modi urges citizens to participate in e-auction of memorabilia gifted to him

The proceeds from the e-auction will go towards the Namami Gange Mission, aimed at conserving and rejuvenating the Ganga

I-T department widens probe against actor Sonu Sood; searches multiple properties in Mumbai
Entertainment

I-T department widens probe against actor Sonu Sood; searches multiple properties in Mumbai

A real estate deal and some other financial transactions linked to Sood are under the scanner of the department, official sources had said

Jio, Airtel add mobile subscribers in July, VIL loses 14.3 lakh users: Trai data
India

Jio, Airtel add mobile subscribers in July, VIL loses 14.3 lakh users: Trai data

Reliance Jio gained 65.1 lakh subscribers in July cementing its market lead, while Bharti Airtel added 19.42 lakh customers during the month.