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Sensex sheds 248 points; banking stocks drag

Source: PTI
May 29, 2019 16:55 IST

SBI was the biggest loser in the Sensex pack, tumbling 3.29 per cent, followed by Tata Steel, ICICI Bank and Maruti, which shed up to 2.76 per cent.

Snapping its three-day rising streak, the BSE Sensex dropped 248 points on Wednesday led by losses in banking, metal and auto stocks amid weak cues from global markets.

After slumping over 300 points, the 30-share index ended 247.68 points, or 0.62 per cent, lower at 39,502.05.

 

The gauge hit an intra-day low of 39,420.50 and a high of 39,767.93.

Likewise, the broader NSE Nifty shed 67.65 points, or 0.57 per cent, to finish at 11,861.10.

During the day, the bourse hit a low of 11,836.80 and a high of 11,931.90.

SBI was the biggest loser in the Sensex pack, tumbling 3.29 per cent, followed by Tata Steel, ICICI Bank and Maruti, which shed up to 2.76 per cent.

On the other hand, Sun Pharma, TCS, HCL Tech and HUL were the top gainers, rising up to 2.41 per cent.

According to traders, market turned choppy tracking weak cues from global markets and fresh selling of equities by foreign institutional investors (FIIs).

FIIs net sold shares worth Rs 501.11 crore on Tuesday, while domestic institutional investors (DIIs) purchased equities to the tune of Rs 269.22 crore, provisional data available with stock exchanges showed.

Photograph: Reuters

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