For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Sensex Erases 2019 Gains; Slumps 470 Points As Pain Continues

|

After a brief respite on Wednesday, the Sensex and the Nifty dived once again in trade, despite relatively quieter global markets. In fact, Europe extended gains on Thursday after the U.S. Federal Reserve sent mixed signals on further easing.

Sensex Erases 2019 Gains; Slumps 470 Points As Pain Continues
 

The Sensex ended lower by 470 points, while the Nifty ended lower by 135 points in trade. Yes Bank, Zee Entertainment, Tata Steel, ICICI Bank, TCS, Hero Motor Corp and Reliance Industries were the stocks dragging the indices lower.

Shares fell largely as markets expected Finance Minister Nirmala Sitharaman to announce some more measures on Wednesday, but, were largely disappointed. Apart from this, the US Fed did not signal any agressive measures to cut interest rates.

Among the Sensex gainers were Tata Motors and Bharti Airtel.

After a day's respite, oil marketing companies saw their shares drop, as crude resumed its upward journey once again. HPCL, BPCL and Indian Oil all saw their shares declining in trade.

Shares in PNB Housing Finance hit a new record low, as investors continued to dump housing finance company stocks. Yes Bank took it on the chin and dived a huge 15 per cent in trade, as investors dumped the stock.

The Nifty media index was the worst performing index. European markets were trading higher, with the German DAX, French CAC and the UK's FTSE all higher.

Meanwhile, the rupee was relatively flat in trade.

GoodReturns.in

Read more about: stock market sensex nifty
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more