Sensex tumbles 229 points, Nifty below 11,900-mark amid weak macro data concerns; Yes Bank, Vedanta among top losers

Yes Bank was the top loser in the Sensex pack cracking 6.51%, followed by SBI, Axis Bank, Vedanta, Sun Pharma, ICICI Bank, IndusInd Bank, ITC, Infosys and Tech Mahindra, shedding up to 3.69%.

Press Trust of India November 13, 2019 17:05:44 IST
Sensex tumbles 229 points, Nifty below 11,900-mark amid weak macro data concerns; Yes Bank, Vedanta among top losers
  • Continued unrest in Hong Kong led to fall in regional markets, also impacting sentiment on Indian bourses

  • After gyrating 386 points during the day, the 30-share Sensex ended 229.02 points, or 0.57%, lower at 40,116.06

  • Besides global weakness, poor domestic factory output numbers dampened marker mood, traders said

Mumbai: Benchmark BSE Sensex on Wednesday dived 229 points as concerns over poor macro data and confusion over US-China trade deal persisted.

Further, continued unrest in Hong Kong led to fall in regional markets, also impacting sentiment on Indian bourses.

A sharp depreciation in the Indian rupee too added to investors' woes, traders said. The rupee dropped below the 72-level against the US dollar in intra-day trade.

After gyrating 386 points during the day, the 30-share Sensex ended 229.02 points, or 0.57 percent, lower at 40,116.06.

Sensex tumbles 229 points Nifty below 11900mark amid weak macro data concerns Yes Bank Vedanta among top losers

Representational image. Reuters.

Similarly, the broader NSE Nifty fell 73 points, or 0.61 percent, to end at 11,840.45.

Yes Bank was the top loser in the Sensex pack cracking 6.51 percent, followed by SBI, Axis Bank, Vedanta, Sun Pharma, ICICI Bank, IndusInd Bank, ITC, Infosys and Tech Mahindra, shedding up to 3.69 percent.

On the other hand, TCS, RIL, HUL, Maruti and NTPC rose up to 3.76 percent.

Posing questions over the much-anticipated truce deal, US President Donald Trump dubbed China a cheater on trade even as he seeks an initial settlement to calm an 18-month trade war, adding to the uncertainty over the deal between the two countries.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul settled up to 1.82 percent lower violent protests in Hong Kong.

Exchanges in Europe were also trading in the red in their respective early deals.

In the forex market, the Indian rupee plunged 57 paise to 72.04 against the US dollar intra-day.

Besides global weakness, poor domestic factory output numbers dampened marker mood, traders said.

The industrial production shrank by 4.3 percent in September, registering the weakest performance in seven years due to output decline in manufacturing, mining and electricity sectors, as per official data released on Monday.

Market is now awaiting cues from consumer price inflation data, which is scheduled to be released later in the day.

Further, an SBI research report on Tuesday sharply cut the country's GDP growth forecast to 5 per cent for FY 2019-20 from the earlier projection of 6.1 percent, raising concerns over the health of the economy.

Meanwhile, Brent crude futures, the global oil benchmark, fell 1.22 percent to $61.30 per barrel.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

'Donald Trump is better': In Asia, pro-democracy forces worry about Joe Biden
World

'Donald Trump is better': In Asia, pro-democracy forces worry about Joe Biden

Over the last 12 months, the Donald Trump administration has considerably stepped up its actions in Asia

America isn’t back yet: Appointing Ivy League careerists alone won’t restore US global leadership
World

America isn’t back yet: Appointing Ivy League careerists alone won’t restore US global leadership

The liberal values that lie at the core of Biden’s foreign policy and defines the analogous idea of his team are not enough to preserve America’s role as the global hegemon

Twitter to hand @POTUS account to Biden on day of swearing-in; tweets from Trump's tenure to be archived
World

Twitter to hand @POTUS account to Biden on day of swearing-in; tweets from Trump's tenure to be archived

'Twitter is actively preparing to support the transition of White House institutional Twitter accounts on 20 January, 2021,' the social network said in a statement to AFP.