Sensex tanks 572 points to close at 35,312 on global equity meltdown, Nifty falls 182 points

Mumbai: Benchmark equity indices cracked for the third consecutive session on Thursday on negative global cues, weak rupee and sustained selling by foreign as well as domestic institutional investors.

The BSE Sensex plunged 572.28 points, or 1.59 percent, to close at 35,312.13. Similarly, the broader NSE Nifty fell 181.75 points, or 1.69 percent, to 10,601.15.

All sectoral indices on the BSE and NSE ended in the red, led by metal, oil and gas, pharma and financial stocks.

Representative image. Reuters

Representative image. Reuters

According to analysts, global markets were in a risk-off mode due to fresh flare-up of tensions between China and the US. Oil prices are inching up on expectation of production cuts by Russia and Opec, weakening rupee further.

The rupee was trading 36 paise lower at 70.82 against the US dollar intra-day. The currency fell to an intra-day low of 71 per dollar mark amid strengthening American currency and weak domestic equity market.

Oil prices extended losses ahead of the crucial Opec meeting. Brent crude, the international benchmark, was trading 1.82 percent lower at $59.74 per barrel.

Top losers in the session included Maruti, Tata Motors, Reliance Industries, Yes Bank, Adani Ports, Bharti Airtel, Asian Paints, ONGC, HUL, Kotak Bank, IndusInd Bank and Axis Bank, falling up to 5 percent.

Sun Pharma was the sole gainer on the Sensex, rising 1.57 percent.

On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 357.82 crore Wednesday, and domestic institutional investors (DIIs) were net sellers to the tune of Rs 791.59 crore, provisional data available with BSE showed.

Elsewhere in Asia, Korea's Kospi fell 1.55 percent, Japan's Nikkei dropped 1.91 percent, Hong Kong's Hang Seng shed 2.47 percent and Shanghai Composite Index fell 1.68 percent.

In Europe, Frankfurt's DAX shed 2.36 percent and Paris' CAC 40 fell 2.21 percent in early deals. London's FTSE too slipped 2.50 percent.

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Updated Date: Dec 06, 2018 16:19:17 IST

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