Sensex tanks 188 points to end below 35k-mark

Sensex tanks 188 points to end below 35k-mark

At 1.30 p.m., the broader Nifty50 of the National Stock Exchange (NSE) traded at 10,762.60 points - up 23.25 points or 0.22 per cent - from the previous close of 10,739.35 points. According to market analysts, heavy selling pressure was witnessed in the automobile, healthcare and metal stocks. It closed at 35,160.36 points - up 190.66 points or 0.55 per cent - from its previous session's close.

Shares of InterGlobe Aviation, after slumping almost 20 per cent in early deals, clawed back some lost ground to end 10.57 per cent lower after the company yesterday reported a 73 per cent plunge in profit for the March quarter.

The BSE 30-share barometer opened higher at 35,144.96 and advanced to 35,206.55 in morning trade on value-buying in recently battered stocks.

Market breadth was negative with 882 advances against 853 declines.

"Rupee weakened as positive US employment data might lead to (US) Feds monetary tightening".

According to Vinod Nair, Head of Research, Geojit Financial Services: "The global market is trading weak as United States starts trade talk with China while any escalation of trade war will dampen investor's sentiment".

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On the currency front, the Indian rupee weakened by 22 paise to 66.87 against the USA dollar from its previous close at 66.65 per greenback.

Shanghai Composite Index too fell 0.16 per cent.The US Dow Jones Industrial Average ended 0.27 per cent lower in yesterday's trade. The gauge lost 73.28 points in the previous session.

Airtel (+2.5%), Indiabulls HF (+1%), HUL (+0.96%), Yes Bank (+0.59%) and Dr.Reddy's (+0.58%) were the top gainers on Nifty50.

Sun Pharma, Yes Bank, Bajaj Auto and ITC were among the major losers on Sensex with their stocks ending as much as 2.95 per cent lower.

Meanwhile, on a net basis, foreign institutional investors (FIIs) sold shares worth Rs 525.93 crore, while DIIs bought shares to the tune of Rs 165.84 crore in Wednesday's trade, provisional data showed.

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