On Wednesday, the benchmark BSE Sensex dipped over 214 points in the opening trade continuing the Tuesday’s fall. The major dip has been followed by a weak trend in global markets between fresh interests of a possible China-US trade war.
Unabated money outflows by international stocks and profit-booking by retail investors too depressed the feelings of the BSE Sensex. Ahead of the May month, there was caution among investors that derivatives expiry on Thursday.
According to Hindustan Times, the 30-share record, which had dropped 216.24 points in the earlier session, floated down by 214.13 points, or 0.61%, to 34,735.11. While, the NSE Nifty shattered below the 10,600-mark by dropping 69.45 points, or 0.65%, to 10,563.85.
All sectoral rules led by bank including oil & gas and capital goods were in the cold zone, sliding up to 1.02%.
As per the brokers, the provided foreign funds outflows, weak trend at other Asian exchanges and overnight losses at the Wall Street mainly triggered selling here. These weak trends were rattled by replenished concerns of a possible China-US trade war and political change in Italy.
Significant losers involved Hero MotoCorp, Tata Motors, ICICI Bank, Axis Bank, SBI, Bajaj Auto, Bharti Airtel, Adani Ports, Yes Bank, Dr Reddy’s and HDFC Ltd, falling by up to 1.92%, reports Hindustan Times.
Meanwhile, foreign portfolio investors (FPIs) traded their shares with a net of Rs 407.33 crore. Whereas domestic institutional investors (DIIs) purchased shares worth Rs 578.38 crore yesterday.
Worldwide, Hong Kong’s Hang Seng average was down 1.62%, while Japan’s Nikkei dropped 1.79% in prime trade market today. Shanghai Composite too was down by 2.04%. In Tuesday’s trade, the US Dow Jones ended 1.58% lower.