Sensex melts 336 points, Nifty below 10,900 on weak global cues
Mumbai: Benchmark Sensex sank over 336 points to end at 36,108.47 in choppy trade on Wednesday following tepid sentiment in other Asian bourses on mounting signs of slowing global growth and concerns over the lingering China-US trade dispute.
Traders said market remained range-bound for the better part of the session as investors kept their exposure at a low ebb due to weak global cues. Towards the fag-end, the selling pressure gathered momentum after European markets opened in the negative zone.
The 30-share Sensex opened on a firm note at 36,494.12 and advanced to touch a high of 36,521.47, largely on drop in global crude prices and a stronger rupee.
However, it succumbed to a late-session sell-off and finally ended at 36,108.75, down by 336.17 points, or 0.92 per cent. The gauge had lost 134.32 points in the previous session. The NSE Nifty too tumbled 91.25 points, or 0.84 per cent, to close at 10,831.50 after moving between 10,811.95 and 10,944.75.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 78.53 crore on Tuesday, while domestic institutional investors (DIIs) sold shares worth Rs 84.15 crore, provisional data showed.