Sensex ends lower on 3rd day at 35,470.15 pts on brisk selling in Realty amid weaker European cues

The BSE Sensex continued to fall for the third

straight session on Monday by 271.92 points to end negative at

35,470.15 due to heavy selling in Auto, Metal, Realty and Bankex

counters amid weaker cues from European peers.

With today’s fall, the Sensex has slumped by 1,012 points in last

three sessions.

The Nifty of National Stock Exchange (NSE) too dropped by 90.50

points to 10,663.50.

The Sensex went up by 117 points to 35,859.66 in the morning session

and then moved up by 168 points to touch day’s high of 35,910.67.

Later, it nosedived by 319 points to hit day’s low of 35,423.24,

before closing at 35,470.15, sliding by 271.92 points as against its

previous close.

The sectoral indices like Materials, Energy, Industrials, Utilities,

Auto, Metal and Realty were under pressure for the third consecutive

session today, along with scrips of Hero MotoCorp, Bajaj Auto, NTPC,

HDFC and Tata Motors DVR.

The broader markets also slid, as the BSE Mid-Cap index and Small-

Cap fell 0.54 per cent and by 1.14 pc, respectively.

The government is close to phasing out 28 pc GST slab except a few

items, Finance Minister Arun Jaitley said in a blog post on Monday.

Future GST roadmap may be a single standard rate between 12 pc and

18 pc, he added.

The market breadth was weaker on BSE, as 910 shares advanced against

1,641 declined and 167 were unchanged.

Overseas, European markets were trading lower while Asian stocks

ended mixed, following last week’s market turmoil in the US.

US stocks closed steeply lower Friday, as investors digested the

implications of a tighter US monetary policy, flagging global growth

and uncertainty surrounding US-China trade relations.

The equity market will remain shut on Tuesday for Christmas

festival, brokers informed.

The sectoral indices led by Realty, Metal, Materials, Consumer

Discretionalry Goods & Services, Auto and Industrials fell by up to

2.29 per cent.

Top gainers were Wipro, TCS, Mahindra & Mahindra, Bharti Airtel,

Kotak Mahindra Bank, Adani Ports & SEZ and Infosys by up to 2.03 pc.

Major losers were Hero MotoCorp, Bajaj Auto, Tata Motors, HDFC, HDFC

Bank and Reliance Industries by up to 4.37 pc.