After a flat start on Tuesday, Sensex fell over 100 points while Nifty breached 10,900 mark.
After a flat start on Tuesday, Sensex fell over 100 points while Nifty breached 10,900 mark. Banks share too continued to nosedive, however, Yes Bank shares up ahead of board meet. At 9:59 AM, Sensex was down by 29.04 or 0.080 per cent to trade at 36,290.70 mark. Nifty50 was at 10,960.80 mark. In global markets, Asian stocks struggled as a fresh round of US-China tariffs and a surge in oil prices to near four-year highs added to worries about risks to global growth.
The stock markets logged their third-biggest fall of the year on Monday as the benchmark BSE Sensex tanked 537 points despite Finance Minister Arun Jaitley’s assurance that the government would take all measures to ensure adequate liquidity for non-banking financial companies and mutual funds.
Falling for the fifth consecutive session, the Sensex tanked 536.58 points, or 1.46 per cent, to end at a two-month low of 36305.02, logging its biggest single-day loss since February 6, when it had shed 561.22 points.
The broader NSE Nifty slipped the 11000-mark and closed at 10967.40, plunging 175.70 points, or 1.58 per cent.
The sentiment was also dampened by a jump in Brent crude prices, which hit a four-year high before trading at $80.07 a barrel, while the rupee fell 43 paise to close at 72.63 per dollar. The broader market, too, continued to bleed with the BSE Midcap and Smallcap indices losing 2.40 per cent and 2.72 per cent, respectively.
“The correction is happening in the high valued stocks. We will see a sector rotation happening in the coming days. Around 2 per cent more correction is possible in the near term,” said Rahul Shah, vice-president, equity advisory group at Motilal Oswal Financial Services. Shah said the correction is overdone now and the investor shift is expected from the NBFCs to banks.
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 "Sensex's losing streak continues for 6th session, Nifty breaches 10,900")
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