Closing Bell: Sensex down 470 points, Nifty closes 7-month low; check to losers
Closing bell: The losers were Yes Bank, Tata Steel, IndusInd Bank and ICICI Bank, while major gainers were Tata Motors, UPL, Bharti Airtel, Coal India and HDFC Bank.
Amid huge selling pressure today, the Sensex closed 470.41 points down at 36,093.47, while Nifty stood at 135.90 points down at 10,704.80. The losers were Yes Bank, Tata Steel, IndusInd Bank and ICICI Bank, while major gainers were Tata Motors, UPL, Bharti Airtel, Coal India and HDFC Bank. The sectoral indices led by metal, pharma, bank, auto, energy, IT and infra also ended in the red.
Prior to close at 2.50, the Sensex and Nifty 50 traded over 1 per cent lower. The Nifty50 breached the crucial 10,800 levels. The BSE Sensex was down 518 points or 1.48 percent at 36,022, while the Nifty 50 fell 162 points or 1.50 percent 10,678. Yes Bank, which witnessed a fall of 12 per cent, was the biggest Nifty loser. IndusInd Bank and ICICI Bank too fell 3 per cent each.
Earlier in the morning, Indian indices opened flat. The Sensex was down 91.55 points or 0.25% at 36472.33, and the Nifty was also down 33.30 points or 0.31% at 10807.40.
Oil prices edged higher in Asian trade on Thursday after days of turbulence, with markets soothed by Saudi Arabia's pledge to restore full production by September end at the facilities knocked out in drone and missile attacks last weekend.
Brent crude futures rose 24 cents to $63.84 a barrel by 0634 GMT, while US West Texas Intermediate (WTI) crude was up 21 cents to $58.32 a barrel.
Asian shares, however, edged higher today, tracking some modest Wall Street gains after the US Federal Reserve cut interest rates as expected but offered mixed signals.
Watch Zee Business Live TV
The US Federal Reserve on Wednesday lowered interest rates by 25 basis points amid growing risks and uncertainties stemming from trade tensions and a global economic slowdown.