Sensex closes 572 points down

Written by: CapitalAim on December 6, 2018


  Sensex closes 572 points down

  There was a day of severe decline in the market today. Global worries, especially due to the dark trade war between the United States and China, the market has faltered today. Sensex lost more than 550 points; The Nifty also fell nearly 1.75% to close to 10600. The situation of bank stocks has also changed. Here the bank nifty has dipped 300 points. The midcap index also dropped 1.5. The point to note is that all the BSE indices have been closed with the decline.

Asian markets have been declining strongly today. The Indian market has also fallen in the face of this. In fact, the arrest of the CFO of Huawei Technologies, China's biggest telecom company in Canada and investors' apprehension before the OPEC countries meeting today.

In today's turn, Indiabulls Housing, Maruti Suzuki, Tech Mahindra, HCL Tech saw the worst decline. At the same time, Sun Pharma, JSW Steel and Gail were the most closed.

Today, the pressure in NBFCs and bank shares is clear. Indiabulls Housing Finance, M & M Finance, Srei Infra, Equitas, saw decline of 4 to 6%. Bank shares are also beaten today. IndusInd Bank, Kotak Mahindra Bank, Axis Bank and ICICI Bank have all fallen by 2%. Among the public sector banks, PNB, Bank of Baroda and SBI are the worst ones.

Worried over Maruti's demand outlook, auto sector also went into reverse gear today. Escorts, TVS Motors and Tata Motors have fallen the most. They have seen a decline of up to 4% today. Auto veterans such as Ashok Leyland, Hero Moto, M & M have also had a weakness.

In terms of turnover, BSE's 30-share index Sensex closed at a level of 572.28 points (i.e. 1.6%) at 35312.13 level. On the other hand, NSE's 50-share index Nifty closed at 181.75 points i.e. 1.7%, at 10601.15 level.

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