Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
»
2-min read

Sensex Tumbles 714 Points as Exit Polls Show Congress-BJP in a Close Fight in Assembly Elections

The BSE Sensex cracked below the 35,000 mark, plunging 713.53 points, or 2 per cent, to close at 34,959.72. Similarly, the broader NSE Nifty fell 205.25 points, or 1.92 per cent, to 10,488.45.

PTI

Updated:December 10, 2018, 4:36 PM IST
facebookTwitterskypewhatsapp
Sensex Tumbles 714 Points as Exit Polls Show Congress-BJP in a Close Fight in Assembly Elections
Representative Image
Loading...

Mumbai: Market benchmark Sensex buckled under heavy selling pressure Monday, plummeting 714 points as investors panicked over exit polls suggesting the Congress giving a tough fight to the ruling BJP in state elections as also the bruised rupee and weak global cues further dampened sentiment.

The BSE Sensex cracked below the 35,000 mark, plunging 713.53 points, or 2 per cent, to close at 34,959.72. Similarly, the broader NSE Nifty fell 205.25 points, or 1.92 per cent, to 10,488.45.

Exit polls for the recently concluded assembly elections have predicted a tight finish between the ruling BJP and the Congress in Madhya Pradesh and Chhattisgarh and a win for the opposition party in Rajasthan, impacting trading pattern on the domestic bourses in a big way.

Besides, a weakening rupee, which hit 71.44 per dollar intra-day, and fresh foreign fund outflows further pulled the key indices. All sectoral indices on the BSE and NSE ended in the red, led by realty, banking, metal, pharma, pharma and financial stocks.

Kotak Bank shares cracked over 6 per cent after the bank said it had moved the Bombay High Court against RBI's decision with respect to the bank reducing promoter holding using preference shares.

In August, Uday Kotak, the founder and promoter of Kotak Mahindra Bank, has pared down his stake in the bank to 19.70 per cent from about 30 per cent following issuance of preference shares.

Within few days, the Reserve Bank said the stake dilution by Kotak does not meet its regulatory norms on the same, something the private sector lender contested.

Other top losers include Reliance Industries, Asian Paints, Tata Motors, Adani Ports, Bharti Airtel, Sun Pharma, L&T, PowerGrid, HDFC, Axis Bank and Bajaj Auto, falling up to 4 per cent.

Coal India and Maruti were the only two gainers on the 30-share index, rising up to 0.79 per cent.

Multiple factors impacted the market sentiment as the bears held complete control of the market from opening till the closing bell, said Joseph Thomas, Head Research, Emkay Wealth Management. This was the biggest one-day fall in the last two months for both indices, falling up to 2 per cent, he said.

On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 817.40 crore Friday, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 242.56 crore, provisional data available with BSE showed.

Brent crude oil futures was trading at 0.31 per cent down at USD 61.48 per barrel.

Elsewhere in Asia, Korea's Kospi fell 1.06 per cent, Japan's Nikkei dropped 2.12 per cent, Hong Kong's Hang Seng shed 1.19 per cent and Shanghai Composite Index tumbled 0.82 per cent.

In Europe, Frankfurt's DAX shed 0.67 per cent and Paris' CAC 40 fell 0.47 per cent in early deals. London's FTSE too slipped 0.41 per cent.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
RBL Bank 500.20 -13.72
Yes Bank 82.80 -3.50
Bajaj Finance 3,322.00 -4.20
ACC 1,545.00 -1.41
Reliance 1,253.00 -0.70
Company Price Change %Gain
Biocon 240.20 -8.69
RBL Bank 500.00 -13.77
Yes Bank 82.75 -3.55
ICICI Bank 411.60 -1.70
HDFC AMC 2,286.05 5.34
Top Gainers
Company Price Change %Gain
NTPC 130.00 2.32
Titan Company 1,090.90 1.01
Coal India 222.10 0.82
TCS 2,080.00 0.68
ONGC 144.00 0.42
Company Price Change %Gain
NTPC 130.05 2.36
Coal India 221.90 0.66
TCS 2,079.00 0.65
ONGC 144.00 0.35
Power Grid Corp 206.60 0.61
Top Losers
Company Price Change %Gain
M&M 574.80 -3.78
Bajaj Finance 3,322.00 -4.20
Eicher Motors 17,699.00 -3.84
Bajaj Finserv 7,531.05 -4.03
Indiabulls Hsg 635.90 -3.52
Company Price Change %Gain
M&M 571.00 -4.42
Bajaj Finance 3,320.00 -4.22
Hero Motocorp 2,392.00 -3.54
Tata Motors 155.30 -3.42
Yes Bank 82.75 -3.55

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results