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Sensex dives by 495.10 pts in single session to end below 39K-level

4/22/2019

Mumbai, The BSE Sensex tanked for second consecutive session on Monday by 495.10 points to end below the 39K-level at 38,645.18 on brisk sell-off across the board ahead of expiry of futures and options contracts for April series due Thursday amidst weaker cues from global peers. The Nifty of National Stock Exchange (NSE) too fell by 158.35 points to 11,594.45. The equity market remained in red for another session today as stocks of oil marketing companies (OMCs) and financial companies dragged the indices down. A 3 per cent jump in oil prices amid negative global cues also dented sentiment. Index heavyweight Reliance Industries (RIL) slipped more than 2 percent today after the company announced its March 2018 quarter results on Thursday. The Sensex, which had declined by 135 points on Thursday, went up by 18 points to 39,158.22 in the morning session and hit day's high of 39,158.22 points. However, it shaved off early gains and plunged by 555 points to hit day's low of 38,585.65 before closing at 38,645.18 points, slipping by 495.10 points as against from its previous close. The Nifty registered day's high and low at 11,727.05 and 11,583.95 points, respectively. The selling in sectoral indices like Materials, Energy, Finance, Health Care, Bankex, Auto and Oil & Gas dragged the market down for another day, along with scrips of Yes Bank, IndusInd Bank, Reliance Industries, ICICI Bank and HDFC, brokers informed. However, buying in Bharti Airtel, TCS, Infosys and NTPC capped its further losses, they said. Globally, the Asian stocks ended weaker on Monday, weighed down by underperforming Chinese stocks, while oil prices rallied on news the United States is likely to ask all importers of Iranian oil to end their purchases or face sanctions. The Shanghai Composite Index shed 1.3 per cent, South Korea’s Kospi edged down 0.2 pc and Japan’s Nikkei was almost unchanged.

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