Sensex down over 900 points, trading below 35,000-mark

Source: WION Web Team
Place: Mumbai, Maharashtra, India Published: Oct 05, 2018, 03.27 PM(IST)

File photo Photograph:( Reuters )

Story highlights

Minutes before closing, the Sensex was trading at 34,267.

The bloodbath in Indian markets continued on Friday as the Sensex fell more than 900 points after a monetrary policy review by the Reserve Bank of India where the central bank of India kept key rates unchanged.

Minutes before closing, the Sensex was trading at 34,267.

The Sensex had fell over 300 points in the morning session, extending its losing run for the third day, amid weak global cues.

It lost 1,356.98 points in the previous two sessions on rupee woes and boiling crude oil prices.

Sectoral indices led by oil and gas, PSU, infrastructure, auto and banking stocks cracked up to 10.27 per cent.

The NSE Nifty also dropped by 90.40 points on Friday morning, or 0.85 per cent, to 10,508.85.

Shares in state-owned oil marketing companies slumped more than 20 percent to multi-year lows on Friday, after the government on Thursday announced a 2.50 rupees-per-litre cut in gasoline and diesel prices to reduce the burden on the Indian masses from all-time high prices at fuel pumps.

The price cut sparked fears of the country going back toward the regulated regime where the prices of diesel and petrol were controlled by the government. Petrol prices were regulated until 2012, while diesel prices remained so until 2014.

(With inputs from agencies)

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