Sensex tumbles 230 points to close at 37,559, Nifty also drops by 58 points

The benchmark BSE Sensex fell over 200 points in early trade on Thursday and settled after dropping 30 points more at 37,558.91 while the NSE Nifty went down by 57.65 points at 11,301.80.

On the other hand, Infosys, TCS, Hero MotoCorp, SBI, L&T and Maruti rose up to 1.44 per cent. In the previous session on Wednesday, the BSE bourse plunged 487.50 points, or 1.27 per cent, to end at 37,789.13; while the broader Nifty sank 138.45 points, or 1,20 per cent, to 11,359.45.

Reliance Industries was the biggest loser in the Sensex pack, ending 3.41 per cent lower. It was followed by Coal India, Asian Paints, NTPC, Kotak Bank, Bharti Airtel, Vedanta, PowerGrid and HDFC twins, which shed up to 2.53 per cent.

On the other hand, Yes Bank gained the most, spurting 5.94 per cent. Bajaj Finance, Hero MotoCorp, TCS, HUL, Bajaj Auto, HCL Tech, Infosys, SBI, M&M, ICICI Bank and Tata Motors rose up to 1.65 per cent.

According to traders, investor sentiment remained weak amid rising trade tensions between the US and China.

Ahead of the next round of talks aimed at ending the trade war between the world’s two largest economies, China has said it will retaliate if US raises tariffs on Chinese products.

Bourses in other Asian countries ended significantly lower, with Shanghai Composite Index falling 1.48 per cent, Hang Seng 2.39 per cent, Nikkei 0.93 per cent and Kospi 3.04 per cent.

European stocks were also trading lower in early trade. Sustained foreign fund outflows also dampened market mood here, traders said. The Indian rupee depreciated 22 paise to 69.93 against the US dollar intra-day. Global oil benchmark Brent crude was trading 0.10 per cent lower at USD 70.30 per barrel.

(With inputs from PTI)