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Sensex falls 198.54 pts
Economy

Sensex falls 198.54 pts

Agency News

Mumbai, Oct 3 : The BSE Sensex lost for the fourth straight session on Thursday as it tumbled down by 198.54 points to settle at 38,106.87 as heavy selling was seen in Telecom, Bankex, Metal and Finance stocks amid weak global cues.

Cautiousness ahead of the release of RBI monetary policy due on Friday weighed on investor sentiment today. The National Stock Exchange (NSE) too eased by 46.80 points to 11,313.10.The S&P BSE Small-Cap index fell 0.38 pc. The S&P BSE Mid-Cap index fell 0.3 pc.

The equity market remained under pressure for the fourth day today as it opened in red at 38,137.87, sliding by 168 points. During the day it was tumbled down by nearly 348 points to 37,957.56, day low. In late trade, it was slightly improved from day low but ended in red only at 38,106.87, down by 198.54 points from its last close. The Nifty registered day high and low at 11,370.40 and 11,257.35 points respectively.

The stocks that dragged the market today were Materials, Telecom, Bankex and Finance. The scrips that slid were VEDL, Tata Steel, HDFC Bank, Kotak Bank and IndusInd Bank.

On the BSE, the market breadth was weak. 964 shares rose and 1,528 shares fell. A total of 159 shares remain unchanged. In Nifty 50 index, 19 stocks advanced and 31 stocks declined.

Overseas, shares in Europe and Asia declined on Thursday after the United States said it will impose tariffs on USD 7.5 billion of goods from the European Union. Markets in China and South Korea are closed on Thursday for holidays.(UNI)