Sensex tanks 284 points, ends in red for sixth day in a row; banking shares take a hit

Mumbai: The BSE Sensex plunged over 284 points on Wednesday to close at a three-month low of 33,033 on heavy selling in banking stocks amid negative global cues. [caption id=“attachment_4332449” align=“alignleft” width=“380”] A file image of a stock broker. Reuters.[/caption] Overseas markets were shaky as global trade war concerns intensified after the resignation of White House economic adviser Gary Cohn, brokers said. The 30-share Sensex tumbled by 284.11 points or 0.85 percent to end at 33,033.09, its lowest closing since 7 December, after shuttling between 32,991.14 and 33,331.21 as infrastructure, power, capital goods, PSU, healthcare, banking, oil and gas and metal stocks nosedived. The index had lost 1,128.55 points in the previous five sessions. The broader NSE Nifty dipped below the 10,200-mark to finish at 10,154.20, down by 95.05 points, or 0.93 percent. Meanwhile, domestic institutional investors (DIIs) net sold shares worth Rs 734.33 crore, while foreign portfolio investors (FPIs) bought shares to the tune of Rs 620.08 crore yesterday.