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Bank, auto stocks drag Sensex down 289 points

July 30, 2019 16:49 IST

In the Sensex pack, Yes bank emerged as the biggest loser, falling 9.13 per cent, followed by IndusInd Bank (6.6 per cent), HeroMotoCorp (6.01 per cent), Sun Pharma (4.79 per cent) and SBI (4.70 per cent).

The benchmark Sensex on Tuesday fell over 289.13 points to close at 37,397.24 due to heavy selling mainly in banking, auto and oil & gas stocks as tepid corporate earnings and auto sector woes weighed on investors' sentiment.

Besides, sustained foreign fund outflows continued to spook domestic equity market.

 

The 50-share NSE Nifty too dropped 103.80 points to settle at 11,085.40.

In the Sensex pack, Yes bank emerged as the biggest loser, falling 9.13 per cent, followed by IndusInd Bank (6.6 per cent), HeroMotoCorp (6.01 per cent), Sun Pharma (4.79 per cent) and SBI (4.70 per cent).

Other losers were Tata Steel, Vedanta, Tata Motors, Reliance, Axis Bank, ONGC, HDFC and ICICI Bank, among others.

On the other hand, Bharti Airtel topped the gainers' chart, up 3.19 per cent, followed by TCS (2.32 per cent), HCL Tech (0.83 per cent), ITC (0.49 per cent), HDFC Bank (0.39 per cent), L&T (0.36 per cent), HUL (0.19 per cent), Infosys (0.16 per cent) and NTPC (0.08 per cent).

Sectorally, BSE metal was the worst performer with 3.25 per cent drop. Other major laggards were energy (2.42 per cent), basic materials (2.32 per cent), oil & gas (2.14 per cent), auto (2.12 per cent) and bankex (1.86 per cent).

In Asian markets, Shanghai Composite Index, Hang Seng, Nikkei and Kospi closed on a positive note ahead of US-China trade talks and Federal reserve policy.

Photograph: Francis Mascarenhas/Reuters

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