Sensex tanks 188 points to end below 35k-mark

Sensex tanks 188 points to end below 35k-mark

Sensex tanks 188 points to end below 35k-mark

"Mixed earnings from corporates and valuation concerns compared to other emerging markets influenced investors to book some profit".

At 3.30 p.m., the broader Nifty50 of the National Stock Exchange (NSE) provisionally closed at 10,679.65 points - down 38.40 points or 0.36 per cent. It shuttled between 10,700.45 and 10,601.60 during the session. The Dow Jones Industrial Average rose 5.17 points, or 0.02 per cent, to end at 23,930.15, the S&P 500 lost 5.94 points, or 0.23 per cent, to 2,629.73 and the Nasdaq Composite dropped 12.75 points, or 0.18 per cent, to 7,088.15.

Domestic institutional investors (DIIs) bought shares worth a net of Rs 261.98 crore, while foreign portfolio investors (FPIs) sold net shares worth Rs 385.47 crore on Monday, provisional data showed. According to market analysts, heavy selling pressure was witnessed in the automobile, healthcare and metal stocks.

The top losers were Sun Pharma, down 2.95 per cent at Rs 518.75; Bajaj Auto, down 2.74 per cent at Rs 2,890.50; Yes Bank, down 2.43 per cent at Rs 345.40; ITC, down 2.37 per cent at Rs 277.50; and Axis Bank, down 2.27 per cent at Rs 520.30 per share. The BSE Mid-Cap and Sma-Cap indices plunged 1.17 per cent and 1.15 per cent.

On the other hand, biggest gainers in the 30-share index were Adani Ports and Special Economic Zone (2.23%), Oil & Natural Gas Corporation (1.94%), Bharti Airtel (1.61%), State Bank Of India (0.56%), I C I C I Bank (0.39%), and Power Grid Corporation Of India (0.36%).

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Consumer durables rose by 1.19 per cent.

PC Jeweller topped the value chart on the BSE with a turnover of Rs. 1,277.66 million.

The net profit is lower from Rs 2,474 crore reported in the year-ago period (as per Indian Accounting Standards) as there was a one-time benefit from tax reversal in the January-March 2017 quarter.

In the Eurozone, Paris CAC 40 fell 0.21 per cent while Frankfurts DAX was higher by 0.25 per cent in early deals.

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