Sensex tanked by 1011.29 pts

Mumbai: The benchmark index of Bombay Stock Exchange on Tuesday plummeted by 1011.29 pts to settle at 30,636.71 snapping a gaining streak of last three sessions, on heavy selling in bankex, metal, capital goods and financial stocks amid weak global cues.

Historic low of crude oil prices too dragged the market. Nifty of national stock exchange slid by 280.40 pts to settle at 8981.45. Nifty registered days high and low at 9,044.40 and 8909.40 pts respectively.

The day opened in red as the Sensex dropped by 811 pts to 30,836.19. The whole session it remained under pressure before closing at 30,636.71, sliding by 1011.29 pts from its previous close. It was tumbled down by 1270 pts to 30,378.26 the day low.

The sectoral indices include bankex, metal, capital goods, finance and industrials erased gains of last three days gain.

In scrips, Indus Ind Bank was the major loser, slid by 12.30 pc to Rs 400.80 followed by Bajaj Finance, ICICI Bank, Axis Bank and Tata Steel.

The mid-cap fell by 2.73 pc and the small-cap declined by 2.96 pc.

Global stocks fell on Tuesday, a day after US crude oil prices turned negative for the first time, as dismal company earnings reports underlined worries about economic damage from the coronavirus pandemic.

MSCI’s All Country World Index, which tracks stocks across 49 countries, was down 0.8 per cent.
European stock markets and Asian counterparts lower, with the pan-European STOXX 600 index down nearly 2 per cent in early deals.

In the commodity market, Brent Crude futures slipped below $20 a barrel, a day after WTI Crude futures slipped into the negative zone amid fears that the sector will run out of storage for a glut caused by the coronavirus lockdown.

US West Texas Intermediate (WTI) crude for May delivery traded at minus $2.58 a barrel, up to $35.05 from Monday’s close when the contract settled at a discount of $37.63 a barrel.

Via UNI-India

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