Sensex and Nifty ended Tuesday’s trade lower as weak global cues, RBI decisions weigh. The 30-share Sensex cracked over 300 points to end the day’s trade at 35,474.51, while the Nifty 50 tested the 10,650-mark. PSU banks, metals and IT stocks emerged as the major losers in the headline indices. IndusInd Bank shares gained about 1.8% to Rs 1,567.25 on BSE.
The BSE Sensex snapped a three-day winning streak and fell over 300 points on heavy selling by market participants, in step with a global selloff despite strengthening rupee and easing crude prices. Besides, profit-booking in recent gainers too fuelled the downward trend. According to dealers, the outcome of the Reserve Bank board’s meet also failed to impress investors.
Asian stock markets skidded on Tuesday, extending sharp losses on Wall Street as technology firms bore the brunt of worries about slackening demand, while the dollar sagged after weak U.S. data further sapped confidence in the currency. U.S. stocks dropped and the Nasdaq fell 3 percent on Monday as investors dumped Apple, internet and other technology shares, further shaking confidence in a group of stocks that has propelled the long bull market. We bring to you key highlights from today’s trade.