Mumbai, Jul 19 (UNI) The BSE Sensex slumped for another day on Friday by 560.45 points to end at a two-month-low of 38,337.01, the third biggest fall in 2019, after the government did not offer any respite to foreign investors registered as trusts from the proposed super-rich tax.
The Nifty of National Stock Exchange (NSE) too dropped by 177.65 pts to 11,419.25.
The Sensex edged higher by 161 points to 39,058.73 in early trade and then it immediately slipped in red. It tumbled nearly 626 points to hit day's low of 38,271.35, before closing at 38,337.01, down by 560.45 points versus its last close.
With today's fall, the Sensex has plunged by 878 points in last two sessions.
The sell-off in sectoral indices like Consumer Discretionary Goods & Services, Bankex, Auto,
Capital Goods, Metal and Realty put pressure on the market for another day today, along with scrips of M&M, Bajaj Finance, Tata Motors, Tata Motors DVR and HeroMoto Corp.
However, buying in NTPC, Powergrid, TCS and ONGC capped its further losses, brokers informed.
The broader markets underperformed the Sensex, as the S&P BSE Mid-Cap index and Small-Cap shed by 1.99 per cent and 1.83 pc, respectively.
The market breadth was negative on BSE, as 667 shares advanced versus 1,874 fell and 130 were unchanged.
Elsewhere in the world, the European stocks were trading higher and the Asian markets closed firm on Friday on comments by a US Federal Reserve official about a US interest rate cut later this month.
The US stocks closed higher Thursday, after New York Federal Reserve president John Williams said the central bank's wisest strategy is to cut interest rates at the first sign of economic distress when interest rates are already low.
The Fed is widely expected to cut interest rates at the conclusion of its two-day policy meet on July 30-31.
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