Sensex ends in red for fourth straight session

MUMBAI : The BSE Sensex erased all its early gains to end lower by about 333 points in see-saw trade Monday, posting fourth straight session fall due to widespread selling in FMCG, realty, power and banks stocks amid the rupee hitting yet another record low. Weakening global cues, triggered by continuing trade war spats between the US and China, too impacted domestic market sentiment.

MUMBAI: The BSE Sensex erased all its early gains to end lower by about 333 points in see-saw trade Monday, posting fourth straight session fall due to widespread selling in FMCG, realty, power and banks stocks amid the rupee hitting yet another record low.

Weakening global cues, triggered by continuing trade war spats between the US and China, too impacted domestic market sentiment. The Indian currency collapsed to a new lifetime low of 71.10 in intra-day trade, raising concerns on the macroeconomic front. Adding to the woes, the country’s manufacturing sector activity eased for the second consecutive month in August.

The 30-share Sensex had soared over 289 points to hit a high of 38,934.35 in early trade boosted by good first-quarter GDP data and recovery in rupee but gave up its gains completely following late sell-off, which dragged it down to a low of 38,270.01 after data showed that manufacturing PMI has slowed in August. It finally settled at oneweek low of 38,312.52, showing a hefty loss of 332.55 points. The broader NSE Nifty closed below the 10,600 mark by plunging by 98.15 points at 11,582.35.