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Market Wrap, May 8: Sensex plunges 488 pts, Nifty ends at 11,359

All the sectoral indices on NSE ended in the red. Media stocks took the hardest knock, followed by realty and PSU bank stocks

Topics
Market Wrap  |  It Stocks  |  Nifty

BS Web Team  |  New Delhi 

Benchmark indices ended lower for the sixth consecutive session on Wednesday amid across-the-board selling and weak global cues. The S&P lost 488 points or 1.27 per cent to settle at 37,790 with (RIL) being the top loser and Asian Paints the biggest gainer. RIL alone contributed around 153 points to the Sensex's fall.

The broader Nifty50 index of the National Stock Exchange (NSE) slipped below the crucial 11,400 level to end at 11,359, down 138 points or 1.2 per cent. Out of 50 constituents, 40 ended in the red and just 10 in the green.

SECTOR WATCH

All the sectoral indices on NSE ended in the red. Media stocks took the hardest knock, followed by realty and PSU The Media index settled at 2,134, down 101 points or 4.53 per cent.

STOCKS THAT MADE NEWS

Reliance Industries: Shares of (RIL) hit an eight-week low on the BSE on Wednesday. The stock has lost 7 per cent in the past three trading days. It ended at Rs 1,299.45 apiece on BSE, down over 3 per cent. READ MORE

Essel Group shares: Shares of Subhash Chandra-led Essel Group companies were under pressure on Wednesday with Zee Entertainment Enterprises (ZEEL) and Dish TV India falling more than 8 per cent each on the BSE. The fall comes despite the group's assurance that the stake sale process of Zee Entertainment Enterprises was at an "advanced stage." At close, ZEEL stood at Rs 333, down 10 per cent while Dish TV India settled nearly 2 per cent lower at Rs 31.

Vodafone Idea: Vodafone Idea shares hit a new low of Rs 13.65, down 12 per cent on Wednesday, declining 17 per cent in past two trading days on the BSE, on back of two-fold jump in trading volumes. The stock ended at Rs 14.35, down over 7 per cent.

BROADER MARKET

In line with benchmarks, the S&P BSE MidCap index shed 139.50 points or 1 per cent to end at 14,383 while the S&P BSE SmallCap closed the day at 14,129 levels, down 172 points or 1.21 per cent.

MONTHLY STAR

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First Published: Wed, May 08 2019. 16:46 IST
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