Nifty clocks worst losing streak in 8 years, Sensex cracks 372 pts; Yes Bank, Sun Pharma, Tata Steel top losers

Extending their decline for ninth continuous day, key domestic indices S&P BSE Sensex and Nifty 50 felt sharply on Monday amid the ongoing US – China trade war to rock the global financial markets.

By : ABP News Bureau | Updated at : 13 May 2019 05:03 PM (IST)

Share Market Update- Nifty clocks worst losing streak in 8 years, Sensex cracks 372 pts, Yes Bank, Sun Pharma, Tata Steel top losers Nifty clocks worst losing streak in 8 years, Sensex cracks 372 pts; Yes Bank, Sun Pharma, Tata Steel top losers

Only six of the 30 BSE constituents ended the day in green. (Image: PTI)

Key domestic indices S&P BSE Sensex and Nifty 50 felt sharply on Monday

Sensex closed 372 points or 0.99 percent lower at 37,090.82

Nifty registered its longest losing streak in over eight years

Share Market Update: Extending their decline for ninth continuous day, key domestic indices S&P BSE Sensex and Nifty 50 felt sharply on Monday amid the ongoing US – China trade war to rock the global financial markets. According to reports, Sensex closed 372 points or 0.99 percent lower at 37,090.82, the lowest in over two months. Meanwhile Nifty registered its longest losing streak in over eight years and slumped 130.70 points to 11,148.20. Even the broader market index represented by the NSE Nifty 500 Index closed 1.4 percent lower. Sun Pharma, YES Bank, Tata Steel, IndusInd Bank, and Tata Motors were the biggest losers today in Sensex cap with only six of the 30 BSE constituents ended the day in green. On the sectoral front, auto, banking, oil and gas and healthcare stocks were the top losers on BSE. Shares of SBI, TCS, HUL, ONGC, Bajaj Finance, Vedanta, Hero MotoCorp, HCL Tech, Bharti Airtel, Maruti, ITC and RIL performed well with rising by up to 1.35 per cent. Apart from Nifty IT index, all the sectoral indices tumbled with Nifty PSU Bank index going down by 5 per cent, Nifty Pharma index down by 4.37 per cent and Nifty Media by 3.78 per cent. As per updates, major falling sector was BSE healthcare losing 486 points or 3.53 per cent to close at 13,310 level. According to reports, today was Nifty's nine straight losing session at the rate of 4,25 per cent. Market has fallen by 0.48 per cent and the volume is down by 1.68 per cent. The Mid-cap of the entire market has fallen by 0.65 per cent. US President Donald Trump on Friday imposed a hefty duty on import of Chinese products from 10 per cent to 25 per cent worth more than $200 billion and asking for a similar increase on tariff on the rest of the Chinese import of over $300 billion. “Sustained foreign fund outflow too weighed on investor sentiment here,” traders said. Foreign institutional investors (FIIs) sold equity worth Rs 1,245.14 crore on Friday, while domestic institutional investors (DIIs) purchased shares to the tune of Rs 1,057.42 crore, provisional data available with stock exchanges showed. Even the rupee depreciated by 26 paise to 70.18 against the US dollar in early trade on Monday amid US-China trade related concerns and rising crude oil prices. Forex traders said that the strengthening of the greenback vis-a-vis other currencies overseas, foreign fund outflows and cautious opening in domestic equities added pressure to the domestic unit.

Published at : 13 May 2019 05:03 PM (IST)

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Share Market Update Nifty Sensex