Sensex falls 363 points |
Indian benchmark indices declined over 1% on Wednesday amid negative cues from global markets, and as investors turn cautious ahead of corporate earnings beginning next week. Concerns of global growth outlook and uncertainty ahead of 2019 general elections in India also added volatility. The BSE Sensex closed 363.05 points, or 1%, down at 35,891.52, and the Nifty 50 ended 117.60 points, or 1.08%, lower at 10,792.50 dragged mainly by losses in auto and metal stocks. Shares of auto companies such as Eicher Motors, TVS Motor and M&M, declined 4% to 9% over weak December vehicles sales data. Metal stocks also declined with the Nifty Metal Index falling over 3% as global base metal prices fall amid disappointing Chinese growth data. Shares of IT companies advanced today as the Indian rupee fell over 1% to below 70 per dollar mark. The BSE midcap and smallcap indices were down 1.26% and 0.74%, respectively. All the sectoral indices on BSE, barring IT and tech, posted losses with metal and auto falling over 3%. Consumption, basic materials and utilities fell around 1.8%. Sun Pharma, TCS, Asian Paints, Infosys, Yes Bank and ICICI Bank were among the major losers on the key indices, whereas Vedanta, Eicher Motors, Tata Steel, M&M and JSW Steel were among the top losers.
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