Sensex logs 5th straight loss amid earnings, trade woes

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Published: May 8, 2019 2:22:10 AM

The investors sentiment was also dented by the weak results reported by some of the heavyweights; the Street chose to stay cautious ahead of results from other blue chips given the trend so far has been somewhat mixed.

 Sensex, Sensex loss, macro economic, United States, China, market, newsSensex logs 5th straight loss amid earnings, trade woes

The Sensex slid for the fifth straight session on Tuesday amid worries that renewed trade tensions between the United States and China would adversely affect India’s macro-economic scenario further at a time when growth is crawling. The investors sentiment was also dented by the weak results reported by some of the heavyweights; the Street chose to stay cautious ahead of results from other blue chips given the trend so far has been somewhat mixed.

On Tuesday, the Sensex lost 0.84 % or 323.71 points to close at 38,276.63, making its longest losing streak since February. The broader Nifty ended 0.87% lower at 11,497.90. Both indices hit their lowest levels in near six-week.

Read Also| Share market fall continues: Sensex down 300 points, Nifty below 11,500 amid US-China trade tensions

The weak sentiment saw much of the market give up value as nearly half of the companies with a market capitalisation of Rs 1,000 crore have lost over 20% of their value in the last one year, investors have had very little to cheer. Of the 709 companies in this universe, 74% are in the red, and 211 companies have lost more than 30% of their value.

The Nifty SmallCap Index has given up 23.1% over the past year, and 80% of its constituents have lost value.

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