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Sensex loses 372 points
Economy

Sensex loses 372 points

Agency News

Mumbai, May 13 : The BSE Sensex tumbled for the ninth straight
session on Monday by 372.17 points to end volatile treade on a
negative note at 37,090.82 due to the sell-off across the board
amidst weaker cues from global peers over uncertainty whether China
and the US will be able to end their escalating trade tiff.

After the US hiked tariffs on USD 200 billion worth of Chinese
goods. China has vowed to retaliate, without giving any details.
The Nifty of National Stock Exchange (NSE) too fell by 130.70 points
to 11,148.20.
The Sensex went up by 29 points to 37,491.30 in early trade and then
added another gain of 121 points to touch day's high of 37,583.57
before it dropped nearly 463 points to hit day's low of 36,999.84.
Finally, it closed at 37,090.82, sliding by 372.17 points compared
to its previous close.
The Nifty registered day's high and low at 11,300.20 ad 11,125.60
points, respectively.
The selling in sectoral indices like Health Care, Materials,
Industrials, Utilities, Auto, Capital Goods, Power and Oil & Gas
fell by nearly 3 per cent, along with scrips of Sun Pharma, Yes
Bank, Tata Motors DVR, Tata Steel and IndusInd Bank.
However, buying in HDFC, HUL, Infosys, Bajaj Finance and Coal India
capped the market's further decline, brokers informed.
The broader market were under pressure, as the BSE Mid-Cap index and
Small-Cap fell 1.84 per cent and 2.15 pc, respectively.
Elsewhere in the world, European and Asian equity markets remained
in red as uncertainty lingered after the trade talks between Chinese
and US negotiators remained inconclusive on Friday.
In the US, stocks staged a massive reversal on Friday after
President Donald Trump asserted that the talks with China over trade
will continue and his relationship with President Xi Jinping remains
strong.
The US President also noted that the trade talks with China were