Sensex sheds 374 points

Sensex sheds 374 points

PTIUpdated: Thursday, May 30, 2019, 12:27 PM IST
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Mumbai : Equities started the week on a distinctly weak note after the Sensex tumbled 374 points on Monday — the most in two weeks — tracking global sell-off ahead of the US presidential debate and an OPEC meeting due this week.

The barometer closed at 28,294.28, a nearly 1-month low. Also, the broader NSE Nifty broke below the 8,800-mark level.

 Investors are also anxiously waiting for the upcoming monetary policy review on October 4, the first to be held under new RBI Governor Urjit Patel.

 Sentiment was in tatters after heavy losses in Asia and a lower opening in Europe, mirroring weekend losses at the Wall Street due to lower crude oil prices.

  The slide came on the heels of a global rally last week fuelled by relief that US and Japanese central banks had decided to maintain their easy-money policies, reports PTI.

Shares have lost their momentum after hitting their highest close in 18 months last week after valuations turned expensive, with most sectoral indices ending in the red.

The 30-share index stayed in the negative zone for the whole day and settled lower by 373.94 points, or 1.30 per cent — its biggest single-day fall since September 12 — at 28,294.28.

This is the weakest closing since August 29 when it had closed at 27,902.66. It had lost 105 points on Friday.

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