Short coverings dent markets, Sensex closes 392 points down

Mumbai: Short coverings on the back of negative cues subdued investor sentiment and led a barometer index of the Indian equity markets to provisionally close 392 points down on Tuesday. The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE) shed 392 points or 1.50 percent during the day’s trade.

Similarly, the other bellwether index — 50-scrip Nifty of the National Stock Exchange (NSE) — fell during the day. It provisionally ended the day’s trade 135.40 points or 1.71 percent lower at 7,779.80 points. Both the bellwether indices had opened in the negative territory on the back of bearish sentiments following the BJP’s rout in the Bihar election, heightened chances of a US rate hike and disappointing quarterly results.

The S&P BSE Sensex, which opened 26,094.09 points, provisionally closed at 25,729.46 points (3.30 p.m.) — down 391.94 points or 1.50 percent from the previous day’s close at 26,121.40 points. The Sensex touched a high of 26,094.09 points and a low of 25,709.23 points during the intra-day trade. The S&P BSE Sensex had closed the previous day’s trade down 144 points or 0.55 percent.

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Free Press Journal