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Sensex plunges 205 points on weak global cues

sensex, nifty

MUMBAI: The benchmark BSE Sensex plunged over 200 points and the NSE index Nifty was trading below the 8,900-mark owing to weak Asian cues.

At 10.10 a.m., the 30-share BSE index Sensex was down 205.43 points or 0.71 per cent at 28,839.85 and the 50-share NSE index Nifty was down 63.65 points or 0.71 per cent at 8,888.85.

All sectoral indices barring IT and Pharma were in the red. Volatility was up 0.7 per cent with the India Vix ruling at 13.2075.

Among BSE sectoral indices, banking index fell the most by 1.34 per cent, realty 1.06 per cent, metal 1.04 per cent and FMCG 1.01 per cent. On the other hand, oil & gas index was up 0.11 per cent, healthcare 0.06 per cent, power 0.06 per cent and IT 0.05 per cent.

Top five Sensex gainers were Wipro (+0.96%), TCS (+0.85%), ONGC (+0.71%), Power Grid (+0.35%) and GAIL (+0.32%), while the major losers were HDFC (-2.16%), ICICI Bank (-2.12%), Hero MotoCorp (-1.96%), Bajaj Auto (-1.73%) and Tata Motors (-1.63%).

The Nifty opened 19 points down at 8,934, while the Sensex opened 18 points up at 29,063.

A report by SMC Global said: "Asian stocks fell the most in a month and regional bonds joined a global debt selloff as investors weighed prospects for further monetary easing in Europe and Japan. US stocks on Thursday closed lower after the European Central Bank kept key interest rates steady but disappointed some by not announcing additional measures to boost Europe's sluggish economy. US consumer credit surged up by $17.7 billion in July after climbing by an upwardly revised $14.5 billion in June. Economists had expected consumer credit to rise by $15.6 billion compared to the $12.3 billion increase originally reported for the previous month."

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