Share market update: Amid weak global cues, Sensex skids 350 pts; Nifty below 10,600

Following weak global cues amid fresh foreign fund outflows, domestic benchmark equity BSE Sensex slipped over 350 points to a low of 35,112.49 points during the mid-morning trade session on Tuesday.

Shares of Jet Airways, InterGlobe and Spicejet were trading higher up to 6.59 per cent. (Image: PTI)

Share Market Update: Following weak global cues amid fresh foreign fund outflows, domestic benchmark equity BSE Sensex slipped over 350 points to a low of 35,112.49 points during the mid-morning trade session on Tuesday. Likewise NSE Nifty too was trading 33.80 points, or 0.32 per cent, down at 10,622.40. As per market reports, sectoral indices led by IT, teck, metal, capital goods and power were trading in the negative zone with losses up to 2.70 per cent. Banks and currency markets are shut today on the occasion of Id-e-Milad. 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, reported news agency IANS. However, indices capped its falling spree on the back of falling crude oil prices that have touched to one-year low in the global markets over supply concerns. Even the shares of aviation and oil marketing companies surged due to sharp drop of nearly 7 per cent in global crude oil prices. Reports suggest that shares of Jet Airways, InterGlobe and Spicejet were trading higher up to 6.59 per cent. State-run oil marketing companies such as BPCL, IOC and HPCL witnessed a gain in shares to up to 4.21 per cent. Brent crude, the oil prices international benchmark, fell 6.92 per cent to USD 62.17 a barrel on Tuesday on excess supply concerns. Heaving selling pressure was seen in major blue-chip stocks such as 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. Shares of these companies slipped by up to 3.71 per cent. On the other hand, Yes Bank, Asian Paints and Bharti Airtel rose up to 2.62 per cent. Yes Bank share rose by 3 per cent to a high of Rs 198.65 per share on the Bombay Stock Exchange (BSE). In Asian markets, Japan's Nikkei fell 0.37 per cent, Shanghai Composite Index shed 0.13 per cent, Korea's KOSPI fell 0.61 per cent and Hong Kong's Hang Seng fell 0.61 per cent. Even the US Dow Jones Industrial Average plunged 2.21 per cent earlier today.