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Stock markets wipe out early gains, Sensex plummets 204 points

ANI 

Equity markets resumed their downward momentum with a huge selloff in the closing hour of trade on Wednesday.

The was down 204 points and closed at 37,115 while the shed 65 points to wind up at 11,157.

Except for IT and realty, all sectoral indices at the National Stock Exchange were in the negative zone. The Nifty Media was down 3.7 per cent, 2.1 per cent, PSU 1.8 per cent and auto 1.2 per cent.

slipped to Rs 123.70 per share, down over 4 per cent, after four top executives resigned a day earlier.

On the other hand, gained 7.6 per cent and traded at Rs 131.15 when the closing bell rang. InterGlobe Aviation, the parent company of low-cost carrier IndiGo, was also up 2.9 per cent at Rs 1,608.55.

Shares of Yes nosedived by 8.6 per cent and by 4 per cent.

was down 7.5 per cent, Zee Entertainment 6.8 per cent, 5 per cent and 4 per cent -- indicating a buildup of heavy short positions.

Among other gainers, however, were Bajaj Finance, Bajaj Finserv, and

Meanwhile, shares in were led by strong gains in Chinese equities which rebounded after two days of losses.

Asian stocks moved up after US Donald Trump's statement that he expected trade negotiations with to be successful. Reports also said that could release more economic stimulus to escalate growth.

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

First Published: Wed, May 15 2019. 16:37 IST
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