Sensex, Nifty End Lower For Ninth Day

(RTTNews) - Indian shares traded flat for most of the day on Monday before succumbing to heavy selling pressure following late selling in pharma, banking and auto stocks.

The benchmark BSE Sensex ended down 372.17 points or 0.99 percent at 37,090.82, the lowest in over two months, hit by tepid industrial output data, weak global cues and rising oil prices.

India's index of industrial production fell 0.1 percent year-on-year in March, erasing a similar size gain in February, a government report showed. Economists had forecast a 1.2 percent rise for the month.

Stocks fell elsewhere across Asia and Europe after the U.S.-China trade talks ended without an agreement and U.S. President Donald Trump defended his tariff policy, saying we are right where we want to be with China.

Brent crude prices jumped 1.7 percent in European trade and WTI crude futures were up 1.5 percent amid heightened supply concerns after the UAE said on Sunday that four cargo vessels were subjected to "sabotage operations" off the coast of Fujairah, one of the world's largest bunkering hubs.

The broader NSE Nifty index registered its longest losing streak in over eight years, ending down 130.70 points or 1.16 percent at 11,148.20.

Yes Bank, Indiabulls Housing Finance, Sun Pharma, Zee Entertainment Enterprises and Eicher Motors fell 5-8 percent in the Nifty pack, while Infratel, HDFC and Titan rose over 1 percent each.
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