Heavy selling in the last half hour of trade, along with outflow of funds, dented sentiments and the benchmark Sensex index of the BSE dropped almost 150 points to an intra-day low of 35,396.97 points on Thursday. The Sensex closed trade 114.94 points or 0.32 per cent lower at 35,432.39 points. The Nifty50 of the National Stock Exchange closed at 10,741.10 points, down 30.95 points or 0.29 per cent. Meanwhile, RITES IPO was subscribed by 1.87 times on day 2.
“Market continued to be under pressure as trade tensions between the U.S. and China is getting escalated. Emerging markets including India were under performing due to FIIs selling. OPEC meeting tomorrow will be a key event, relaxation in production cuts will provide some relief to Indian markets,” said Vinod Nair, Head of Research, Geojit Financial Services.