Left Menu
Development News Edition

Stock markets wipe out early gains, Sensex plummets 204 points

ANI | Mumbai (Maharashtra) | Updated: 15-05-2019 17:24 IST | Created: 15-05-2019 16:37 IST
Stock markets wipe out early gains, Sensex plummets 204 points
Image Credit: Wikimedia Commons

Equity markets resumed their downward momentum with a huge selloff in the closing hour of trade on Wednesday. The S&P BSE Sensex was down 204 points and closed at 37,115 while the Nifty 50 shed 65 points to wind up at 11,157.

Except for IT and realty, all sectoral indices at the National Stock Exchange were in the negative zone. The Nifty Media was down 3.7 per cent, metal 2.1 per cent, PSU bank 1.8 per cent and auto 1.2 per cent. Jet Airways slipped to Rs 123.70 per share, down over 4 per cent, after four top executives resigned a day earlier.

On the other hand, SpiceJet gained 7.6 per cent and traded at Rs 131.15 when the closing bell rang. InterGlobe Aviation, the parent company of low-cost carrier IndiGo, was also up 2.9 per cent at Rs 1,608.55. Shares of Yes Bank nosedived by 8.6 per cent and IndusInd Bank by 4 per cent.

Tata Motors was down 7.5 per cent, Zee Entertainment 6.8 per cent, JSW Steel 5 per cent and IndusInd Bank 4 per cent -- indicating a buildup of heavy short positions. Among other gainers, however, were Bajaj Finance, Bajaj Finserv, Eicher Motors and Indian Oil Corporation.

Meanwhile, shares in Asia were led by strong gains in Chinese equities which rebounded after two days of losses. Asian stocks moved up after US President Donald Trump's statement that he expected trade negotiations with China to be successful. Reports also said that Beijing could release more economic stimulus to escalate growth.



‘Discounted Deaths’ and COVID 19: Anthropology of Death and Emotions

Death is a social event rather than the mere cessation of biological functions. As seen by anthropologists, death is not just physical but intensely social, cultural, and political....

Indigenous knowledge of communities a must for maximizing impact of community work

Generally, it has been observed that the majority of the academicians in higher education institutions neglect the wisdom of community people and throw their weight around thinking that they know everything and the community knows nothing. ...

In rebuking FBR, Pakistan’s courts take a stand for public health

The system, if implemented effectively, will allow Pakistans revenue service to combat the illicit trade in tobacco products and potentially add hundreds of millions of dollars to the states budget each year. ...

Dissecting how COVID-19 is catalyzing the trajectory of New World Order

The ensuing pandemic of COVID-19 has hit the globalization in two ways firstly, shrinking the importance of globalization as an economic force by curtailing mobility through worldwide lockdowns, and secondly, rejuvenating the idea of indig...


Latest News

Lancet study is not randomised clinical trial, only analysis of hospital registers worldwide: CSIR on WHO suspending HCQ drug testing

Dismissing the reports of health risks from Hydroxychloroquine HCQ as per simmering reports cited by the World Health Organisation WHO, Shekher Mande, Director General of the Council of Scientific and Industrial Research CSIR, India, said o...

Twitter labels Trump tweets with a fact check for the first time

For the first time, Twitter put a warning label under two posts by Donald Trump, prompting the US president to accuse the popular social media platform of interfering in the presidential election scheduled in November. Twitter highlighted...

IMD predicts relief from intense heat for Varanasi

The India Meteorological Department IMD has predicted some relief from the scorching heat for the people in Varanasi in the next few days. On Tuesday, Varanasi recorded a maximum temperature of 46 degrees Celcius.According to the IMD, the c...

Hong Kong police fire pepper pellets to disperse protests over security bill

Hong Kong riot police fired pepper pellets to disperse protesters in the heart of the global financial centre on Wednesday, as new national security laws proposed by Beijing revived anti-government demonstrations.Police also surrounded the ...

Give Feedback