Sensex drops 487 points to close under 38,000 marks; RIL tears more than 3 PCs

Mumbai, May 8 () Domestic Benchmarking Shares Increased Their Losing Streak For The Sixth Consecutive Straight Session Wednesday, The BSE Sensex Plunging 487 Points And The Nifty Crack Under The 11,400 Mark Came As Tensions Between The US And China Heavily Weighted The Investor Sentiment Worldwide. The 30-part BSE Index Finished 487.50 Points, Or 1.27 Percent, Lower At 37,789.13 The Index Hit A Low Of 37,743.07 And A High Of 38,248.57. Similarly, The NSE Dropped Nifty 138.45 Points, Or 1.20 Percent, To Settle At 11359.45. During The Day, The Stock Market Hit A Low Of 11,346.95 And A Height Of 11,479.10. The Sensex Was Mainly Towed By Reliance Industries, HDFC, HDFC Bank, ICICI Bank And SBI, Which Lost Up To 3.35 Percent. Bajaj Finance, Tata Motors, Bajaj Auto, Sun Pharma, NTPC, IndusInd Bank, Vedanta, M & M, Yes Bank And ONGC Were Among The Other Losers, Who Dropped Out To 3.22%. Only Asian Paints, HCL Tech, And TCS Ended Up In Green And Took Off At 0.60 Percent. According To Traders, Domestic Shares Followed The Weakness In Global Shares By The Increasing Tensions Between The US And China. Since US President Donald Trump Has Threatened Chinese Goods For USD 200 Billion On Sunday, Markets Have Been Shaking. Energy And Financial Shares Came Under Selling Pressure Amid The Outflow Of Foreign Funds And Subdued Corporate Earnings, Experts Said. Foreign Institutional Investors (FIIs) Tuesday Sold Shares Worth Rs 645.08 Crore, While Domestic Institutional Investors (DIIs) Bought Shares For An Amount Of Rs 818.84 Crore, Preliminary Data Available With Stock Exchanges. Other Asian Stock Exchanges Ended Up Considerably Lower, With A Shanghai Composite Index Of 1.12%, Hang Seng 1.23%, Nikkei 1.46% And Kospi 0.41%. European Shares Listing At A Mixed Moment In Early Trading. The Indian Rupee Depreciated 19 Paise To 69.59 Against The US Dollar Intra-day. Global Benchmark Brent Crude Trading Was 0.41 Per Cent Lower At USD 69.59 Per Barrel. ANS ABM ABM