Sensex ends lower at 36,690.50 pts

Sensex ends lower at 36,690.50 pts

Agency News

Mumbai, Aug 7 : The benchmark index of the Bombay Stock Exchange (BSE) sank by 286.35 points in a volatile trade to end negative at 36,690.50 as investors offloaded Energy, Metal, Bankex and Auto stocks, after the Reserve Bank of India (RBI) revised its growth forecast for the year, from 7 per cent estimated earlier to 6.9 pc, in its Monetary policy here on Wednesday.

Nifty of the National Stock Exchange (NSE) too slipped by 92.75 points to 10,855.50. Key equity benchmarks ended the volatile session with steep losses today, despite a 35-basis point (bps) rate cut by the RBI in its Monetary policy.

The Sensex opened positive at 37,025.27, in early trade and then yo-yoed in a range of 37,104.79 and 36,610.57 points before closing in red at 36,690.50, sliding by 286.35 points compared with its last close.

The losses in sectoral indices like Energy, Auto, Bankex, Consumer Durables, Metal and Oil & Gas dragged the market down today, along with scrips of M&M, Tata Motors DVR, Tata Steel, Tata Motors and SBI.

However, buying in HUL, Yes Bank, HeroMotoCorp and Sun Pharma capped its further decline, brokers informed.

The broader markets underperformed the Sensex, as both the BSE Mid-Cap index and Small-Cap fell by 0.44 percent and 0.11 pc, respectively. The market breadth turned negative from positive in late trade on BSE, as 1,107 shares advanced whereas 1,374 declined and 160 were unchanged. Globally, US stocks rallied Tuesday after six days of decline as China stepped in to stabilise its currency, the yuan, easing concerns that currencies would be the next weapon in the China-US trade war. (UNI)