Sensex Ends 272 Points Lower; Realty & Metal Stocks Witness Selling

Indian share markets witnessed most of the selling pressure during closing hours and ended their trading session lower. Barring IT sector and Telecom sector, all sectoral indices ended on a negative note with realty stocksmetal stocks, and auto stocks losing the most.

At the closing bell, the BSE Sensex stood lower by 272 points (down 0.8%) and the NSE Nifty closed down by 91 points (down 0.8%). The BSE Mid Cap index ended the day down 0.5% and the BSE Small Cap index ended the day down by 1.1%.

The rupee was trading at 70.02 against the US$.

In the last few sessions, the rupee has been strengthening against the US$. Last week, dollar came under pressure after the Federal Reserve in its policy statement mentioned that rate hike in the coming year could be restricted to two compared to earlier estimates of three rate hikes next year.

Asian stock markets finished on a negative note. As of the most recent closing prices, the Hang Seng was up down 0.4% and the Shanghai Composite was up by 0.5%. The Nikkei 225 was down 1.1%.

In the news from the automobiles spaceHero MotoCorp share price witnessed selling pressure today after global brokerage house Goldman Sachs downgraded the company to sell from neutral.

The firm also cut the target price sharply from Rs 3175 to Rs 2773, implying a 16.5% potential downside from December 21.

Shares of the auto company have rallied 23% from October 25, 2018.

Hero MotoCorp share price ended the day down by 4.3%.

To know more about the company, you can read Hero MotoCorp latest result analysis and Hero MotoCorp Annual Report on our website.

Moving on to the news from the banking spaceBandhan bank share price was in focus today as the bank and HDFC share price are in discussions for a possible merger between Kolkata-based private sector lender and Gruh finance.

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