Sensex ends lower on day 2 at 38,720.57 pts amid heavy sell-off

Sensex ends lower on day 2 at 38,720.57 pts amid heavy sell-off

Agency News

Mumbai, Ju1 8: The benchmark index of Bombay Stock Exchange(BSE) extended losses for the second consecutive day on Monday when it slumped by 792.82 points in the biggest single-day-fall in last four years to end negative at 38,720.57, amid heavy sell-off in global equities as well as lacklustre Union Budget.

The Nifty of National Stock Exchange (NSE) too fell by 252.55 points to 11,558.60.

The presentation of the Budget on Friday triggered the fall as it failed to cheer investors. Proposals like surcharge on high income generating groups, increased threshold of minority shareholding from 25 per cent to 35 and no specific announcement to revive consumption dampened investors' sentiment.

The Sensex opened in red by 37 points at 39,476.38 and then plummeted by 908 points to hit the day's low at 38,605.48, before closing at 38,720.57, down by 792.82 points versus its previous close.

The Nifty recorded the day's high and low at 11,771.90 and 11,523.30 points.

The sectoral indices like power, realty, capital goods, auto, industrials, materials, consumer goods and services, finance and banks fell today, along with scrips of Bajaj Finance, ONGC, Hero MotoCorp, Maruti Suzuki and NTPC.

The broader markets underperformed the Sensex, as the S&P BSE Mid-Cap and Small-Cap shed by 1.99 per cent and by 2.46 pc, respectively.

The market breadth was weaker on BSE, as 575 shares advanced and 1,950 declined and 144 remained unchanged. (UNI)