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Sensex ends below 36K-level at 35,891.52 pts on selling across board

1/2/2019

Mumbai, A day after smart recovery, the benchmark index of Bombay Stock Exchange (BSE) crashed on Wednesday by 363.05 points to end below the 36K-level at 35,891.52 due to selling across the board amid negative global cues. The Nifty of National Stock Exchange (NSE) too dropped by 117.60 points to 10,792.50. The Sensex edged down by 56 points to 36,198.13 in early session and remained under pressure throughout the day. It plummeted by nearly 520 points to hit day's low of 35,734 during the day. It recouped slightly in late trade and closed negative at 35,891.52, down by 363.05 points as against its last close. Stocks once again turned weaker in mid-morning trade after latest data showed that manufacturing activity slowed down in December. The Nifty recorded day's high and low at 10,895.35 and 10,735.05 points, respectively. The sectoral indices like Metal, Materials, Energy, Realty, Oil & Gas and Utilities dragged the market down, along with scrips of VEDL, Tata Steel, M&M, Tata Motors DVR and Tata Motors. While, Sun Pharma, TCS, Asian Paints and Infosys rose that capped its further losses, brokers informed. On the macro front, the health of India's manufacturing economy improved further at the end of the year, as companies continued to scale up production and employment in response to strong inflows of new business, data released on Wednesday showed. Posting 53.2 in December, from 54 in November, the Nikkei India Manufacturing Purchasing Managers' Index (PMI) was consistent with a further improvement in operating conditions across the sector. The broader markets were also under pressure, as the S&P BSE Mid-Cap index and Small-Cap dropped by 1.26 per cent and 0.74 pc, respectively. The market breadth was weaker on BSE, as 956 shares advanced against 1,594 declined and 167 were unchanged. Elsewhere in the world, European and Asian shares fell after data showed Chinese factory activity contracted in December. China's factory activity contracted for the first time in 19 months in December as domestic and export orders continued to weaken, data released today showed. The Caixin/Markit Manufacturing Purchasing Managers' Index (PMI) fell to 49.7 in December from 50.2 in November, marking the first contraction since May 2017.

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