The BSE Sensex erased all its early gains to end lower by about 333 points in see-saw trade on Monday, posting fourth straight session fall due to widespread selling in FMCG, realty, power and banks stocks amid the rupee hitting yet another record low.<\/p>\n
Weakening global cues, triggered by continuing trade war spats between the US and China, too impacted domestic market sentiment.<\/p>\n
The Indian currency collapsed to a new lifetime low of 71.10 in intra-day trade, raising concerns on the macroeconomic front.<\/p>\n
Adding to the woes, the country\u2019s manufacturing sector activity eased for the second consecutive month in August.<\/p>\n
Selling was more pronounced in FMCG, realty, power, banking, auto, oil & gas, PSU, IT, teck, infrastructure and capital goods stocks that dragged the indices into the negative zone.<\/p>\n
Major losers were HUL, PowerGrid, ITC, M&M, Maruti Suzuki, ONGC, TCS, Asian Paints, RIL, Hero Motocorp, Tata Steel, Infosys, L&T and Tata Motors, falling up to 4.58 per cent.<\/p>\n
Banking stocks such as Axis Bank, ICICI Bank, Kotak Bank, Yes Bank, SBI and IndusInd Bank fell as much as 2.69 per cent on Monday.<\/p>\n
The 30-share Sensex had soared over 289 points to hit a high of 38,934.35 in early trade boosted by good first-quarter GDP data and recovery in rupee but gave up its gains completely following late sell-off, which dragged it down to a low of 38,270.01 after data showed that manufacturing PMI has slowed in August.<\/p>\n
It finally settled at one-week low of 38,312.52, showing a hefty loss of 332.55 points, or 0.86 per cent. The gauge had lost 251.56 points in the last three sessions.<\/p>\n
The broader NSE Nifty closed below the 10,600 mark by plunging by 98.15 points, or 0.84 per cent, at 11,582.35 after shuttling between 11,567.40 and 11,751.80.<\/p>\n
Both indices recorded the biggest single day fall since August 2, when the BSE had lost 356.46 points and the NSE Nifty 101.50.<\/p>\n","protected":false},"excerpt":{"rendered":"
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