Sensex falls for 9th straight session, posts longest losing run in six years; key reasons

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Published: February 19, 2019 5:03:31 PM

BSE Sensex extended the fall on Tuesday as it continued its fall for the ninth straight session, closing the day 146 points lower, pulled down by IT stocks amid robust foreign fund outflows.

irb infra, sensex, bse, nseSubdued cues from other Asian and European markets too weighed on investor sentiment.

BSE Sensex extended the fall on Tuesday as it continued its fall for the ninth straight session, closing the day 146 points lower, pulled down by IT stocks amid robust foreign fund outflows.  The 30-share index settled 145.83 points, or 0.41 per cent lower at 35,352.61, after a 489-point intraday swing. NSE Nifty plunged 36.60 points, or 0.34 per cent, to 10,604.35.

IT heavyweights fall

IT heavyweights including TCS and Infosys were the top losers in the Sensex pack, plunging nearly 3.39 per cent today. “The fall was mainly due to the sudden fall in the IT stocks like TCS, Wipro and Infosys,” said Joseph Thomas, Head Research – Emkay Wealth Management told news agency PTI.

Also read: Share market Highlights: Sensex ends 146 points down, Nifty holds 10,600; TCS, Infosys among top losers

Weak Asian markets

Subdued cues from other Asian and European markets too weighed on investor sentiment, analysts told PTI.

FII outflows   

Heavy selling by foreign institutional investors (FIIs) turned the investor sentiment negative for the traders told PTI.

Also read: Emami share price jumps 15% after promoters sell stake to reduce debt

While FIIs sold shares worth a net Rs 1,239.79 crore, domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,336.74 crore today, according to provisional data available with BSE.

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