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Sensex drops 180 points to close at 38,877, Nifty also drops by 69 points

New Delhi, PTI | Updated : 03 April 2019, 03:47 PM
Sensex drops 180 points to close at 38,877
Sensex drops 180 points to close at 38,877

The BSE benchmark Sensex rose over 150 points in early trade led by gains in banking and auto stocks but ended on a lower note by 179.53 points. The 30-share BSE index on Wednesday also settled at 11,643.95 after dropping 69.25 points.

According to experts, inflow of foreign liquidity in expectation of rate cut from the Reserve Bank of India (RBI) and revival in earnings will provide some stability in the market.

Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 543.36 crore Tuesday, while domestic institutional investors (DIIs) sold equities to the tune of Rs 437.70 crore, provisional data available with stock exchanges showed.

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The Monetary Policy Committee (MPC) is holding a two-day meeting between April 2 and April 4 for the first bi-monthly policy statement for 2019-20. The RBI will unveil its first bi-monthly monetary policy decision of this new fiscal on Thursday.

Meanwhile, the rupee appreciated by 9 paise to trade at 68.65 to the US dollar in early trade on Wednesday. Brent crude futures, the global oil benchmark, rose 0.52 per cent to trade at USD 69.73 per barrel.

Elsewhere in Asia, benchmark equity indices in Shanghai, Tokyo and Seoul were trading positive. 

First Published: Wednesday, April 03, 2019 03:47 PM
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