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Sensex falls for 7th straight day, down 230 points; Nifty ends at 11,302

Most global markets edged lower as the deadline for the US and China to raise reciprocal tariffs approached

Bloomberg  |  Mumbai 

Sensex, bse
Illustration by Ajay Mohanty

The extended losses on Thursday, with the posting its longest losing streak in almost three months, joining a rout of peers across Asia, as investors remained on the edge ahead of the US-China trade talks this week.

The declined 0.6 per cent, or 230 points, to 37,558.91, a seventh consecutive session of losses in the longest such stretch since February, showed data by Bloomberg. The index has lost 1,508 points, or 3.86 per cent, since April 26. Nearly a third of this fall has been on account of decline in shares of Reliance Industries (RIL), which fell 3.4 per cent on Thursday, dragging the 141 points down.

The RIL stock fell after Morgan Stanley downgraded the country’s most valuable company to equal-weight from overweight.

Sensex falls for 7th straight day, down 230 points; Nifty ends at 11,302
Meanwhile, the fell 0.5 per cent, or 58 points, to 11,302. The index is over 4 per cent from its all-time high touched on April 16.

Most global edged lower as the deadline for the US and China to raise reciprocal tariffs approached.

Locally, quarterly earnings of companies remain in focus for investors. Of the 22 firms that have so far announced results, 14 have either met or exceeded analyst estimates.

Foreign portfolio investors (FPIs) were net-sellers to the tune of Rs 655 crore, while domestic investors were net buyers to the tune of Rs 678 crore, showed provisional data by stock exchanges.

Thirteen of the 19 sector indexes compiled by BSE fell, led by a gauge of energy




With inputs from Samie Modak

First Published: Fri, May 10 2019. 01:23 IST
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