Stock markets wipe out early gains, Sensex plummets 204 points

ANI
15 May 2019, 22:38 GMT+10

Mumbai (Maharashtra) [India], May 15 (ANI): Equity markets resumed their downward momentum with a huge selloff in the closing hour of trade on Wednesday.

The SP BSE Sensex was down 204 points and closed at 37,115 while the Nifty 50 shed 65 points to wind up at 11,157.

Except for IT and realty, all sectoral indices at the National Stock Exchange were in the negative zone. The Nifty Media was down 3.7 per cent, metal 2.1 per cent, PSU bank 1.8 per cent and auto 1.2 per cent.

Jet Airways slipped to Rs 123.70 per share, down over 4 per cent, after four top executives resigned a day earlier.

On the other hand, SpiceJet gained 7.6 per cent and traded at Rs 131.15 when the closing bell rang. InterGlobe Aviation, the parent company of low-cost carrier IndiGo, was also up 2.9 per cent at Rs 1,608.55.

Shares of Yes Bank nosedived by 8.6 per cent and IndusInd Bank by 4 per cent.

Tata Motors was down 7.5 per cent, Zee Entertainment 6.8 per cent, JSW Steel 5 per cent and IndusInd Bank 4 per cent -- indicating a buildup of heavy short positions.

Among other gainers, however, were Bajaj Finance, Bajaj Finserv, Eicher Motors and Indian Oil Corporation.

Meanwhile, shares in Asia were led by strong gains in Chinese equities which rebounded after two days of losses.

Asian stocks moved up after US President Donald Trump's statement that he expected trade negotiations with China to be successful. Reports also said that Beijing could release more economic stimulus to escalate growth. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Sports Sun.

More Information

US Sports

Section

New Lakers coach Vogel calls for 'togetherness'

United States - Los Angeles Lakers head coach Frank Vogel said forging a sense of "togetherness" would be crucial as ...

Johnson blasts Lakers GM after shock exit

Los Angeles - Former Los Angeles Lakers executive Magic Johnson said a breakdown in relations with the team's general manager ...

Leonard stars as Raptors claw back with win over Bucks

United States - Kawhi Leonard scored eight of his 36 points in the second overtime period Sunday to lead the ...

Ex-NBA star used 'fake penis' to cheat drug testers in 2004

Los Angeles - Former NBA star Lamar Odom has revealed he used a prosthetic penis to dupe drug-testers before competing ...

Minnesota Gophers softball wins NCAA regional

Gophers win NCAA softball regional, will host LSU starting Friday St. Paul Pioneer Press The Minnesota Gophers softball team beat ...

New Jersey Devils- 2019 NHL Draft Mirrors The 2016 Draft

New Jersey Devils: 2019 NHL Draft Mirrors 2016 Draft FanSided The 2019 NHL Draft has a couple of game-changers to ...

NFL

Section

Movie Review

The Expendables [Blu-Ray]

Expendables