Closing the heavily volatile session, the 30-share Sensex shed 176 points on Tuesday, while the broader Nifty ended below the 10,200-level. Sensex closed 176.2 points lower to 34,067.40, and the Nifty ended the Tuesday’s session at 10,198.40 amid a plunge in pharma and financial stocks, even as midcap and small cap stocks outperformed. Shares of Mukesh Ambani-led Reliance Industries ended 2.6% lower at 1,058.9.
After a sharp recovery, the 30-share Sensex plunged by more than 150 points on Tuesday afternoon amid heightened pressure in financial stocks. Banking stocks including HDFC Bank, Kotak Mahindra Bank, ICICI Bank, Axis Bank fell by more than 1% each. Jet Airways shares rallied as much as 13% intra-day after media reports said that it has appointed Goldman Sachs Group and Boston Consulting Group (BCG) as advisers to achieve the goals of boosting operational efficiencies, and raising funds for the same.
Asian shares came under pressure, with Chinese markets and the yuan falling, hurt by fresh worries about the intensifying Sino-U.S. trade war and tracking losses in Wall Street indexes. MSCI’s broadest index of Asia-Pacific shares outside Japan edged down 0.3 percent, Reuters reported. U.S. stocks in a volatile session, with the S&P 500 ending just shy of confirming its second correction of 2018, hurt by fresh worries of an escalation of U.S.-China trade tensions and a sharp drop in big tech and Internet names, Reuters said. We bring to you live updates from today’s trade.