Sensex plunges 318 points on global worries, Yes Bank down 12.7 pc

Equities ended a three-day winning streak on Thursday with across-the-board selling pressure during the last hour of trading.

The BSE S & P Sensex closed 318 points down at 38,897 while the Nifty 50 lost 91 points to wind up the day at 11,597.

At the National Stock Exchange, all sectoral indices were in the red except for financial services. Nifty PSU bank dipped by 3.18 per cent, auto by 2.74 per cent, metal by 2.46 per cent and realty by 1.52 per cent.

Among stocks, Yes Bank dropped 12.7 per cent at Rs 85.90 per share after reporting 91 per cent drop in its net profit and bad loans worth Rs 6,230 crore during the first quarter of current fiscal.

ONGC was down by 4.4 per cent, Coal India by 4.3 per cent, Tata Motors by 4.1 per cent and Maruti by 3.3 per cent.

However, Wipro gained over 3 per cent. HDFC and Zee Entertainment too gained over 2 per cent each while Britannia and HDFC Bank showed marginal gains.

Meanwhile, Asian shares edged lower as Wall Street stocks dropped on signs that the US-China trade war could hurt corporate earnings.

Earlier in the week, US President Donald Trump kept up the pressure on Beijing with a threat to put tariffs on another 325 billion dollars of Chinese goods.

The benchmark Nikkei shed 1.97 per cent and Chinese shares followed the suit with Shanghai Composite down 1.04 per cent.

Hong Kong's Hang Seng retreated 0.46 per cent and South Korea's market was off 0.3 per cent after the Bank of Korea unexpectedly cut its policy interest rate for the first time in three years.