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1-min read

Sensex Falls Over 100 Points, Nifty Plummets by Almost 20 Points on Weak Global Cues

Top losers in the Sensex pack in early session include Tata Motors, HCL Tech, Vedanta, Infosys, ONGC, Tata Steel, Hero MotoCorp, Maruti, Asian Paints and RIL, falling up to 2.30 per cent.

PTI

Updated:March 8, 2019, 5:37 PM IST
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Mumbai: The BSE benchmark Sensex on Friday started on a negative note tracking weak cues from other Asian markets amid heavy selling by domestic institutional investors and depreciating rupee.

After falling over 100 points, the 30-share index was trading 64.70 points, or 0.18 per cent, to 36,660.72. Similarly, the 50-share NSE Nifty fell 19.90 points, or 0.18 per cent, to 11,038.30.

Sensex had climbed 89.32 points or 0.24 per cent to finish at 36,725.42 in the previous session, while the broader NSE Nifty inched up 5.20 points or 0.05 per cent to 11,058.20.

Top losers in the Sensex pack in early session include Tata Motors, HCL Tech, Vedanta, Infosys, ONGC, Tata Steel, Hero MotoCorp, Maruti, Asian Paints and RIL, falling up to 2.30 per cent.

On the other hand, NTPC, M&M, Bajaj Auto, ITC, Bharti Airtel, Sun Pharma, SBI, HUL, TCS and L&T were among the top gainers, rising up to 2.64 per cent.

Meanwhile, on a net basis, foreign institutional investors (FIIs) bought shares worth a net of Rs 1,137.85 crore on Thursday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 925.46 crore, provisional data available with BSE showed.

According to traders, heavy DII outflow, weak global cues after the European Central Bank (ECB) has slashed its forecast for economic growth and inflation in the 19-country eurozone, and depreciating domestic currency against the US dollar weighed on investor sentiment here.

The ECB now expects growth of 1.1 per cent this year, down from its earlier forecast for 1.7 per cent. Inflation is also expected to be lower, at 1.2 per cent compared with 1.6 percent forecast earlier.

The central bank's President Mario Draghi announced the reduction after Thursday's policy meeting, where the bank took several steps to support a weakening economy.

Elsewhere in Asia, Hong Kong's Hang Seng fell 1.48 per cent, Shanghai Composite Index cracked 2.90 per cent higher, Kospi was down 1.04 per cent, and Japan's Nikkei dropped 1.83 per cent in early trade.

On Wall Street, Dow Jones Industrial Average ended 0.78 per cent lower on Thursday.

The rupee, meanwhile, was depreciated 13 paise against US dollar to 70.13.

The benchmark Brent crude futures slipped 0.71 per cent to USD 65.83 per barrel.

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Company Price Change %Gain
Yes Bank 65.40 -8.15
Maruti Suzuki 6,228.90 0.61
Indiabulls Hsg 483.55 -7.26
Tata Motors 112.40 -9.25
SBI 277.40 -2.22
Company Price Change %Gain
Maruti Suzuki 6,222.95 0.39
Yes Bank 65.40 -8.21
Indiabulls Hsg 482.85 -7.40
Abbott India 9,016.25 0.21
Tata Motors 112.30 -9.29
Top Gainers
Company Price Change %Gain
Hero Motocorp 2,714.25 1.69
Infosys 799.45 0.85
Bajaj Auto 2,764.80 0.80
Eicher Motors 16,000.50 0.66
Maruti Suzuki 6,228.90 0.61
Company Price Change %Gain
Hero Motocorp 2,714.20 1.68
Infosys 799.55 0.84
Bajaj Auto 2,764.00 0.77
HUL 1,849.90 0.48
Maruti Suzuki 6,222.95 0.39
Top Losers
Company Price Change %Gain
Tata Motors 112.40 -9.25
Yes Bank 65.40 -8.15
Indiabulls Hsg 483.55 -7.26
Tata Steel 343.00 -4.26
BPCL 327.80 -4.22
Company Price Change %Gain
Tata Motors 112.30 -9.29
Yes Bank 65.40 -8.21
Tata Steel 343.05 -4.26
Coal India 188.75 -3.33
ONGC 121.15 -3.12

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