homemarket NewsClosing Bell: Sensex sheds 470 points, Nifty falls 1.2% as market witness huge selling; Yes Bank tanks 1%, Zee down 8%

Closing Bell: Sensex sheds 470 points, Nifty falls 1.2% as market witness huge selling; Yes Bank tanks 1%, Zee down 8%

Closing Bell: Sensex sheds 470 points, Nifty falls 1.2% as market witness huge selling; Yes Bank tanks 1%, Zee down 8%
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By CNBC-TV18 Sept 19, 2019 3:56:38 PM IST (Updated)

The Sensex ended 470 points lower at 36,093, while the broader Nifty50 index lost 136 points to end the day at 10,705.

Indian shares ended lower, down over 1.2 percent on Thursday amid huge selling in all sectors, while investors laid off heavy bets after the US Federal Reserve delivered mixed signals about its next move.

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The Sensex ended 470 points lower at 36,093, while the broader Nifty50 index lost 136 points to end the day at 10,705.
Shares in Asian peers turned lower after the US Fed cut interest rates as expected, but Fed Chairman Jerome Powell took a cautious approach to any further reductions in borrowing costs.
In broader markets, the Nifty Midcap and the Nifty Smallcap indices fell 1.7 and 1.5 percent, respectively.
Tata Motors, UPL, HDFC Bank, Coal India and Bharti Airtel were the top gainers on the Nifty50. Yes Bank was the biggest loser on the index, down nearly 16 percent followed by Zee, Indiabulls Housing, Tata Steel and IndusInd Bank.
All sectoral indices ended in red for the day. The Nifty Media index fell the most, down 4.5 percent each followed by the Nifty PSU Bank, down 2 percent. Meanwhile, the Nifty Bank, the Nifty Energy and the Nifty Realty slipped over 1.5 percent each. The Nifty Auto also slipped 1.2 percent, while the Nifty Pharma slumped 1.7 percent for the day.
Zee slumped 8 percent after sources told CNBC-TV18 that Zee promoters met mutual fund lenders for an extension of the September 30 deadline for the repayment of debt.
IIFL Wealth Management, the demerged entity of IIFL Holding, made its debut on Indian bourses on Thursday. The stock, which listed at 1,210 per share on NSE, ended in 5 percent upper circuit at Rs 1,270.50.
Auto stocks were under pressure as waning hopes of tax cuts to spur demand hit automakers. According to sources, the GST Council's Fitment Committee has rejected the proposal to cut GST for the auto sector.
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