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Sensex slumps 318.18 pts on negative global cues
Economy

Sensex slumps 318.18 pts on negative global cues

Agency News

Mumbai, Jul 18 : The benchmark index of Bombay Stock Exchange (BSE) on Thursday declined by 318.18 points to settle at 38,897.46 as selling was seen across the board amid negative global cues.

The Nifty of National Stock Exchange (NSE) too dropped by 90.60 points to 11,596.90. Surging by 478 points in last three sessions, the Sensex opened weak by 11 points to 39,204.47 and remained under pressure throughout the day as it tumbled down by 354 points to 38,861.25 day low, before closing at 38,897.46, sliding by 318.18 points from its last close.

The sectoral indices like Materials, Consumer Discretionary Goods and Services, Industrials, Health Care, Power and Auto dragged the market during the day.

The scrips include Yes Bank, ONGC, Tata Motors DVR, Tata Motors and M & M slipped while buying in HDFC, Kotak Bank, HDFC Bank and Bajaj Finance capped from further decline, broker said.

In the broader market, S&P BSE MidCap was negative at 1.23 per cent while the S&P BSE SmallCap was 1.15 per cent.

Global shares declined after media reported Wednesday that trade negotiations between US and China are at an impasse over restrictions on Chinese tech giant Huawei. (UNI)