Sensex Ends 304 Points Lower On Global Cues, Weak Rupee

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Benchmark indices ended the day weak, as global cues, particularly from Asia and Europe were not very encouraging.

 Sensex Ends 304 Points Lower On Global Cues, Weak Rupee
Most of Europe was lower, led by losses in the German DAX and the French CAC. This dragged the Sensex lower by 304 points, while the Nifty ended lower by 88 points.

The rupee, which hit a 2-month low also impacted sentiments. Check and convert rupee rates here

Shares in Sun TV lost a huge 12 per cent, after reports that AIADMK was set to form the government in Tamil Nadu, which was against exit poll predictions.

However, Raj TV gained 20 per cent and was locked at the upper end of the circuit filter.

Among the Nifty losers in trade were heavyweight ITC, which pulled the indices down because of its weightage.

The biggest hit came from PSU banking stocks with State Bank of India, Bank of Baroda and Syndicate Bank all dropping by more than 4 per cent, as sentiments for banking stocks continued to remain weak, following a dismal set of results from a host of government banks.

Among the top gainers were Lupin, Tata Motors, Tata Steel and Bharat Heavy. Shares in Trigyn gained as much 15 per cent, following a 20 per cent rally on Wednesday.

With this stock has rallied 35 per cent in just two trading sessions. Meanwhile, the rupee hit a 2-month low and was last trading at Rs 67.14.

Read more about: sensex, nifty, bharat heavy, itc
Story first published: Thursday, May 19, 2016, 14:43 [IST]
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