Sensex drops 250 pts; Quite less than 11,450

Mumbai, May 8 () The BSE Sensex Benchmark Expanded Its Losing Streak By Losing Over 250 Points On Early Trading Wednesday, Leading Losses On Global Markets Amid Increasing Tensions Between US And China. The 30-part Index Traded 205.12 Points, Or 0.54 Percent, Lower At 38.071.51. Similarly, De Broeder NSE Nifty Decreased With 63.65 Points, Or 0.55 Percent, With 11.434.25. Top Losers In The Early Session Were RIL, ONGC, Vedanta, NTPC, Bajaj Auto, Bajaj Finance, HDFC Twins, HUL And SBI, Who Declined Up To 1.57 Percent. On The Other Hand, Bharti Airtel, PowerGrid, IndusInd Bank, ICICI Bank, Tata Steel, Yes Bank, And Sun Pharma Were The Best Winners, Which Up To 0.82 Percent. In The Previous Session On Monday, The BSE Exchange Ended With 323.71 Points, Or 0.84 Percent, Lower With 38.276.63. The NSE Nifty Also Dropped 100.35 Points To Nestle Under The 11,500 Level At 11,497.90. According To Sunil Sharma, Chief Investment Officer Of Sanctum Wealth Management, Markets Around The World Have Been Weak, Because The Resumption Of Trade War Threats Continues To Take Headlines. " Profit Has Not Been Encouraging At Consumer Companies That Have Missed Estimates From Analysts And Private Bank Revenues Due To Higher Provisions," He Said. However, The Profit Slowdown May Be Due To Political Uncertainty And Consumers Are Opting To Refuse Purchases Until Clarity Arises, He Added. In The Meantime, Foreign Institutional Investors (FIIs) Sold An Equity Value Of Rs 645.08 Crore On Tuesday, While Domestic Institutional Investors (DIIs) Bought Shares For An Amount Of Rs 818.84 Crore. Provisional Data That Were Available At The Trade Shows Turned Out. Elsewhere In Asia, The Markets In Shanghai, Hong Kong, Tokyo And Seoul Traded With A Negative Note. On Wall Street The Indices Of S & P500 And Nasdaq Composite Came Out By 2 Percent Lower On Tuesday. On The Currency Front, The Rupee Depreciated 20 Paise Up To 69.62 Against The US Dollar. Brent Crude Futures, The Global Oil Benchmark, World Trading 0.44 Per Cent Higher At USD 70.19 Per Barrel ANS ANS

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