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Business EconomyPosted at: Feb 18 2019 5:40PM


Sensex ends lower on 8th day at 35,498.44 pts on brisk sell-off

Mumbai, Feb 18 (UNI) The BSE Sensex tanked for the eighth day on
Monday by 310.51 points to end negative at 35,498.44 due to
sustained selling across the board despite a rally in global
equities.
The Nifty of National Stock Exchange (NSE) too declined by 83.45
points to 10,840.95.
Investors were assessing the central government's response to the
deadly attack on the paramilitary forces in Pulwama in Kashmir last
week.
The Sensex went up by 23 points to 35,831.18 in the morning trade
and gained further by 104 points to touch day's high of 35,912.44 in
during the day, but then dropped sharply by 338 points to hit day's
low of 35,470.76 in intra day. It finally closed negative at
35,498.44, sliding by 310.51 points as compared to its previous
close.
The Nifty registered day's high and low at 10,759.90 and 10,628.40
points, respectively.
The selling in sectoral indices like Energy, FMCG, IT, Technology,
Power and Metal put pressure on the market for another day today,
along with scrips of TCS, Yes Bank, Reliance Industries, ITC and Sun
Pharma.
While, buying in ONGC, Tata Motors, Axis Bank and Tata Motors DVR
capped the equity market's further slide, brokers informed.
The broader markets also ended in red, as the BSE Mid-Cap index and
Small-Cap lost 1.04 per cent and 1.01 pc, respectively.
The market breadth was weaker on BSE, as 882 shares advanced
compared with 1,671 declined and 181 were unchanged.
Overseas, European shares were trading mixed as investors continued
to monitor trade talks between the world's two largest economies.
The Asian stocks closed higher on Monday, as trade talks between the
United States and China are set to continue in Washington this week
following conclusion of the high-level meetings in Beijing on Friday
last.
The US stock indices surged on Friday buoyed by growing optimism
that the US and China can strike a trade truce ahead of the March 1
deadline.
The US stock markets would be closed on Monday in observance of the
Presidents' Day holiday.
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