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May 23, Wednesday 2018 12:35 AM       

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       Sensex tanks 239 pts in nervous trade
 
         Posted on :16:29:48 May 17, 2018
   
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       Last edited on:16:29:48 May 17, 2018
         Tags: Sensex tanks 239 pts in nervous trade
 

MUMBAI: The BSE Sensex plunged 239 points Thursday to end at 35,149.12 as nervous investors took money off the table amid political wrangling in Karnataka.

Muted quarterly earnings, crude oil prices inching closer to USD 80 per barrel, mixed cues from global markets and unabated foreign fund outflows were other factors behind the sharp fall, brokers said.

BJP legislature party leader B S Yeddyurappa was today sworn in as the chief minister of Karnataka for the second time, after an overnight high-voltage legal battle in the Supreme Court. However, the apex court made it clear that the swearing-in and the government formation would be subject to the final outcome of the case before it.

The 30-share Sensex resumed higher at 35,483.62 and advanced to a high of 35,510.01. However, it slipped on profit-booking and touched a low of 35,087.82, before finally settling at 35,149.12, down 238.76 points, or 0.67 per cent.

This is the benchmark's lowest closing since May 4 when it had closed at 34,915.38.

The gauge had lost 168.83 points in the previous two sessions.

The NSE 50-share Nifty also lost 58.40 points, or 0.54 per cent, to 10,682.70, after shuttling between 10,777.25 and 10,664.50.

Foreign portfolio investors (FPIs) net sold shares worth Rs. 699.22 crore, while domestic institutional investors (DIIs) bought shares worth Rs. 229.06 crore yesterday, as per provisional data.

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       BUSINESS
Next Article: Won't apply for top job at Bank of England: Raghuram Rajan
 
 
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Will GST help decrease the petrol price?
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