Sensex ends lower at 38,963.26 pts on sustained sell-off on 3rd day


Mumbai, The benchmark index of Bombay Stock Exchange (BSE) declined for third straight session on Friday by 18.17 points to end below the 39K-level at 38,963.26 due to sustaine sell-off in Materials, FMCG, IT, Technology stocks. The Nifty of National Stock Exchange (NSE) too shed by 12.50 points to 11,712.25. The Sensex, which had fallen by 50.12 points on Thursday, went up today by 26 points to 39,009.55 in early trade and then advanced by 192 points to touch day's high of 39,172.76 in mid-morning session. Later, it pared early gains to hit day's low of 38,920.17 and closed in red at 38,963.26, down by 18.17 points compared with its last close. The selling in sectoral indices like Materials, FMCG, Health Care, IT, Technology pulled the market down for another day today, along with scrips of TCS, HUL, Tata Steel and Infosys. However, buying in Realty, Powergrid, Auto and Bankex capped its further decline, brokers informed.The broader markets underperformed the Sensex, as the BSE Mid-Cap index and Small-Cap shed 0.10 per cent and 0.31 pc, respectively. The market breadth was negative on BSE, as 1,031 shares gained versus 1,479 fell and 194 were unchanged. On the economic front, India's unemployment rate in April rose to 7.6 pc, the highest since October 2016, and up from 6.71 pc in March, a data released by the Centre for Monitoring Indian Economy (CMIE) said. Meanwhile, India's economy slowed down slightly due to decline in growth in private consumption in the last fiscal, slow increase in fixed investment and muted exports though it is still fastest growing major economy, said the Finance Ministry in a monthly report.