Share Market Update: Sensex sheds 248 points, Nifty at 11,861; SBI, Tata steel, Maruti top losers

Both Sensex and Nifty traded in green in the last three sessions and even closed at record high levels ahead of the May series future & option (F&O) expiry.

By : ABP News Bureau | Updated at : 29 May 2019 04:20 PM (IST)

Share Market Update: Sensex sheds 248 points, Nifty at 11,861; SBI, Tata steel, Maruti top losers Share Market Update: Sensex sheds 248 points, Nifty at 11,861; SBI, Tata steel, Maruti top losers

Meanwhile, the Indian rupee depreciated 18 paise to 69.87 against the US dollar. (Image: Getty)

Sensex and Nifty 50 ended Wednesday’s trading session with losses

S&P BSE Sensex closed 248 points or 0.62 percent lower at 39,502

NSE Nifty 50 ended at 11,861.10, down 0.57 per cent

Share Market Update: After posing a massive surge post Modi government thumping victory in Lok Sabha polls, domestic benchmark indices BSE Sensex and NSE Nifty 50 ended Wednesday’s trading session with losses. Both Sensex and Nifty traded in green in the last three sessions and even closed at record high levels ahead of the May series future & option (F&O) expiry. Today, S&P BSE Sensex closed 248 points or 0.62 percent lower at 39,502. The gauge hit an intra-day low of 39,420.50 and a high of 39,767.93. Likewise, the NSE Nifty 50 ended at 11,861.10, down 0.57 per cent. The broader market index represented by the NSE Nifty 500 Index ended 0.59 per cent lower. During the day, the bourse hit a low of 11,836.80 and a high of 11,931.90. SBI was the biggest loser in the Sensex pack, tumbling 3.29 per cent followed by Tata Steel, ICICI Bank and Maruti, which shed up to 2.76 per cent. On the other hand, Sun Pharma, TCS, HCL Tech and HUL were the top gainers, rising up to 2.41 per cent. As per traders, market turned choppy tracking weak cues from global markets and fresh selling of equities by foreign institutional investors (FIIs). FIIs net sold shares worth Rs 501.11 crore on Tuesday, while domestic institutional investors (DIIs) purchased equities to the tune of Rs 269.22 crore, provisional data available with stock exchanges showed. Even the global markets plunged on Wednesday after the European Central Bank said a growth slump that could be caused by rising trade tensions is the biggest risk to financial stability in the eurozone. Bourses elsewhere in Asia ended in the red, and those in Europe were also trading significantly lower in their early deals. Meanwhile, the Indian rupee depreciated 18 paise to 69.87 against the US dollar. Brent crude, the global benchmark, dropped 2.16 per cent to 67.19 per barrel.