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Sensex drops 289 points as selling pressure mounts, Nifty closes at 11,823


Equity benchmark indices traded lower on Friday for the third consecutive session amid rising geopolitical tensions and selling pressure in realty, auto, IT and financial stocks.

The BSE Sensex ended 289 points lower at 39,452 while the shed 91 points to settle at 11,823. At the (NSE), all sectoral indices were in the negative zone.

Shares of sank further by 10.77 per cent to an all-time low at Rs 82.05 per share after NSE said the will soon no longer be traded in the derivatives market. In a bid to curb speculative trading, intraday trading in the stock will also be barred from June 28.

suffered a decline of 9.3 per cent to close at Rs 76.55 per share after a series of downgrades by global rating agencies.

Real Estate dipped over 4 per cent, 3.9 per cent and 2.3 per cent. Consequently, Nifty Realty index fell by 2.1 per cent.

IndusInd Bank, Housing Finance and Zee Entertainment lost over 4.5 per cent each while and slipped over 2.5 per cent.

However, rose 3.2 per cent after reports that French is close to acquiring a 30 per cent stake in the company, Bharti Infratel, Larsen & Toubro, Sun Pharma, Power Grid and Adani Ports show thin gains.

Meanwhile, Asian stocks were subdued as China's industrial output grew 5 per cent in May from a year earlier, well below April's 5.4 per cent despite a series of support measures since last year.

Investors remained edgy, fearing a long-drawn trade war with the that could push the global economy into recession.

At the same time, the blamed for attacks on two in the Gulf of on Thursday that drove up oil prices, raising concerns over a new US-Iranian confrontation that could push up

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, June 14 2019. 16:36 IST