Sensex Falls Below 37,000-Mark, Tanks 531 Points Due to Large Scale Selloff
The Sensex fall meant that Nifty fell below 10, 800 points. Domestic equity benchmarks BSE Sensex fell over 531 points to trade below 37,000-mark in early trade on Monday following persistent foreign fund outflows amid negative global cues.
Mumbai, August 5: Sensex plunged by more than 500 points on Monday as the stocks took a beating in the opening trade session. The Asian shares fell to its lowest in six months. The panic was triggered due to the trade war between US and China, which led investors to rushing to safe options like bonds and gold.
The Sensex fall meant that Nifty fell below 10, 800 points. Domestic equity benchmarks BSE Sensex fell over 531 points to trade below 37,000-mark in early trade on Monday following persistent foreign fund outflows amid negative global cues.
Kashmir issue also spooked investors' sentiment after the authorities stepped up security at vital installations and in sensitive areas, suspended mobile internet services and either "arrested" or "detained" several leaders in fast-paced developments on Sunday night. Home Minister Amit Shah will speak in the Parliament at 11 AM on the Kashmir issue.
The 30-share index was trading 531.94 points or 1.43 per cent lower at 36,586.28; and the broader Nifty fell 171.05 points, or 1.56 per cent, to 10,826.30 in morning session. In the Sensex pack, Yes Bank, Tata Motors, Vedanta, SBI, Tata Steel, Power Grid, ICICI Bank, ONGC, Reliance and Maruti, were among the major losers, falling up to 8.49 per cent. (With Agency Inputs)
(The above story first appeared on LatestLY on Aug 05, 2019 10:50 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).