Sensex Falls Over 400 Points, Nifty Settles Below 11,750; Yes Bank, Maruti Suzuki Top Losers
The S&P BSE Sensex and NSE Nifty 50 Indexes snapped their three day winning streak led by declines in HDFC, Reliance Industries, Tata Consultancy Services, Hindustan Unilever, Maruti Suzuki and Kotak Mahindra Bank. The benchmarks opened on a weak note taking cues from other Asian markets as US-Iran tensions and anxieties over China-US trade talks left markets in the region struggling to match the euphoria on Wall Street over a possible US interest rate cut next month. The Sensex fell as much as 480 points and the NSE Nifty 50 Index touched intraday low of 11,705.
The Sensex ended 407 points or 1.03 per cent to close at 39,194 and the NSE Nifty 50 Index dropped 108 points or 0.91 per cent to close at 11,724.
Seventeen of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Auto Index's 1.32 per cent decline. Telecom, Energy, FMCG, Healthcare, Consumer Discretionary Goods & Services and Oil & Gas Indexes also rose between 0.8 and 1 per cent each.
Mid- and small-cap shares ended on a mixed note as the S&P BSE MidCap Index fell 0.4 per cent while the S&P BSE SmallCap Index rose 0.14 per cent.
Yes Bank was top loser in the Nifty 50 basket of shares. The stock fell 4.5 per cent to close at Rs 109.40. Maruti Suzuki, HDFC, Hindustan Unilever, Hero MotoCorp, Indian Oil, Coal India, Sun Pharma, Zee Entertainment, Kotak Mahindra Bank, Bharat Petroleum and Reliance Industries also declined between 1.4 and 2.9 per cent each.
On the flipside, UPL, Hindalco, Indiabulls Housing Finance, Tech Mahindra, State Bank of India, UltraTech Cement and IndusInd Bank were among the gainers.
