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Sensex Plunges 372 Points, Nifty Settles Below 11,150

Indian equity benchmarks logged in ninth straight session of losses as foreign investors sold shares on Friday on failed US-China trade talks.

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Sensex Plunges 372 Points, Nifty Settles Below 11,150

Indian equity benchmarks logged in ninth straight session of losses as foreign investors sold shares in Indian markets on Friday after hopes of US-China trade deal were crushed and neither side showed a willingness to budge. Losses in today's session were paced by declines in Sun Pharma, Yes Bank, Tata Steel, IndusInd Bank, Tata Motors and ITC. Selling pressure has been in equity markets as investors are selling risk assets ahead of the outcome of general election results due on May 23, analysts said.

The Sensex fell 0.99 per cent or 372 points to close at 37,091 and the NSE Nifty 50 Index plunged 1.16 per cent or 131 points to 11,148.

All 19 sector gauges barring the Information Technology Index ended lower on the BSE led by the S&P BSE Healthcare Index's 3.5 per cent fall.

Auto, capital goods, utilities, basic materials, metal, oil & gas, power and realty sector gauges also declined in the range of 1.8 and 2.5 per cent each.

Selling pressure was broad-based in today's session as the S&P BSE MidCap Index dropped 1.84 per cent and the S&P BSE SmallCap Index slumped 2.15 per cent.

Eicher Motors was top loser from the Nifty 50 basket of shares, the stock fell 8.13 per cent to Rs 18,700 after its net profit came in at Rs 545 crore on higher other income of Rs 40 crore.

Zee Entertainment, Sun Pharma, Indiabulls Housing Finance, Yes Bank, JSW Steel and Tata Steel also fell bwetween 4 and 6 per cent each.

On the other hand, Titan, HDFC, Bharti Infratel, Tech Mahindra, Hindustan Unilever, Bajaj Finance and Coal India were among gainers.

The overall market breadth was extremely bearish as 1,839 shares closed lower while 621 ended higher on the BSE.



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