Sensex tanks 323 pts on weak global cues; Nifty below 11,550

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Sensex tanks 323 pts on weak global cues; Nifty below 11,550 ^Featured

Super User 17 September 2020

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Mumbai, Sep 17 (PTI) The BSE Sensex tumbled 323 points on Thursday, weighed by losses in index heavyweights Reliance Industries and HDFC twins amid negative cues from global markets after the US Fed highlighted the uncertainty surrounding economic recovery.

The 30-share BSE index ended 323 points or 0.82 per cent lower at 38,979.85. The NSE Nifty fell 88.45 points or 0.76 per cent to 11,516.10.

Bajaj Finserv was the top laggard in the Sensex pack, shedding over 2 per cent, followed by PowerGrid, L&T, ICICI Bank, Bajaj Finance, TCS and Sun Pharma.

On the other hand, HCL Tech, Infosys and Maruti finished higher.

According to traders, domestic equities traded on a negative note tracking weak cues from global markets after the US Federal Reserve hinted at key policy interest rate staying close to zero at least through 2023 without unveiling any additional stimulus plans.

Bourses in Shanghai, Hong Kong, Seoul and Tokyo ended with significant losses.

Stock exchanges in Europe too opened on a negative note.

Meanwhile, global oil benchmark Brent crude was trading 0.26 per cent lower at USD 42.11 per barrel. PTI ANS ABM ABM