Sensex Ends 416 Points Lower; Banking And Energy Stocks Witness Huge Selling

After hitting record highs in the morning trade today, India share markets gave up all the gains and ended near day's low with Nifty below 12,250 level.

At the closing bell, the BSE Sensex stood lower by 416 points (down 1%) and the NSE Nifty stood down by 121 points (down 1%).

The BSE Mid Cap index ended the day down 0.6%, while the BSE Small Cap index ended the day down by 0.4%.

Stocks in the banking sector and energy sector witnessed huge selling pressure, while telecom stocks were trading in the green.

The rupee was trading at 71.12 against the US$.

Asian stock markets finished on a mixed note. As of the most recent closing prices, the Hang Seng was down by 0.90% and the Shanghai Composite was up by 0.66%. The Nikkei 225 was up 0.18%.

European markets were trading on a negative note. The FTSE 100 was down by 0.29%. The DAX was trading down by 0.04%, while the CAC 40 stood down 0.33%.

Speaking of the huge fall witnessed in stock markets today, in today's edition of The 5 Minute WrapUp, Tanushree has shared Vijay's popular video, along with the full transcript, on safe investments for 2020.

You can check the same here: Your Safe Income Options for 2020

In news from the pharma sector, the US Food and Drug Administration (USFDA) is back in action again as at least five companies filed corporate announcements on the stock exchanges related to the health regulator over the past three days.

Cipla announced the closure of inspection by the USFDA at its Patalganga manufacturing facility in Maharashtra.

Biocon also informed bourses that pre-approval inspection of the Bengaluru facility of its arm conducted by US health regulator was concluded with zero observations.

Strides Pharma Science (Strides) said its arm has received an establishment inspection Report (EIR) from the US health regulator for its Florida facility in the US. Strides Pharma Inc received EIR from the USFDA for the inspection conducted at its unit it December last year.

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