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Nifty ends at 11,438, down 151 points amid rupee woes

Press Trust of India  |  Mumbai 

The NSE Nifty dropped sharply by 151 points, its biggest single-day loss in past six months, to close at 11,438 due to heavy losses in energy, financials and pharma stocks.

The fresh trade war spat between the US and after threatened to impose additional tariffs on billion worth of Chinese products dampened investors sentiments.

The rupee touching a life-low of 72.67 per dollar, forcing the government to consider measures to soften the fall after the current account deficit widened to most in five years also hit the sentiment. Rupee had declined nearly 15 percent against the dollar this year.

"The persistent weakness in the is now starting to show its impact on all asset classes including the equities. The 'sentiment risk' is now the challenge for stock markets," Jagannadham Thunuguntla, VP and Head of Research (Wealth), said.

Overseas, shares in struggled to make gains while most Asian shares ended lower, as trade tensions between the US and remained in focus.

The index fell 151 points or 1.30 per cent to end at a three week low of 11,438.10. As many as 42 constituents declined while eight advanced.

Losses in index Bank, and dragged the barometer to a three-week low levels.

Bajaj Finance, IndiaBulls Housing Finance, BajajFinsv, Mahindra&Mahindra, Vedanta Ltd, and UltraCemCo were among the losers

Major index gainers were HclTech, Axis Bank, Zeel, Cipla, GAIL, TCS, and

Among the sectoral indices, PSU fell by 2.16 per cent followed by Pharma 2.01 percent, Auto 1.75 percent, FMCG 1.73 percent, Metal 1.70 percent, 1.64 percent, Realty 1.51 percent, 1.41 percent, Infra 1.02 percent 0.97 per cent and Media 0.12 percent.

The market breadth, indicating its overall health, turned negative. On the NSE,600 stocks advanced,1,230 declined and 81 remained unchanged. Total securities that hit their price bands were 214.

Turnover in the cash segment fell to Rs 33,574.56 crore from Rs 36,966.93 crore as on Friday.

A total of 14,625.13 lakh shares changed hands in 1,18,26,618 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,53,09,846.28 crore.

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

First Published: Mon, September 10 2018. 19:05 IST