Sensex tanks over 300 points; Nifty tests 11,500

According to dealers, national equities opened on a poor note monitoring negative information from international markets.  Equity benchmark BSE Sensex fell over 300 points in ancient semester on September 25, dragged by reductions from banks, IT and automobile stocks amid negative worldwide cues and overseas fund outflow.The 30-share indicator was trading 303.70 points, or 0.78 percent, reduced at 38,793.44 in 0930 hours, whereas the wider Nifty dropped 92.70 points, or 0.80 percent, to 11,495.50.In the former semester Tuesday, the BSE barometer ended with a meagre advantage of 7.11 points, or 0.02 percent, in 39,097.14, whereas
the Nifty settled 12 points, or 0.10 percent, reduced at 11,588.20. According to dealers, national equities opened on a poor note monitoring negative information from international markets.Trade warFounded in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul were investing considerably lower in their various late afternoon sessions following U.S. President Donald Trump put China on notice in the United Nations, announcing that the period of commerce"abuses" by Beijing had been"over" and calling on the nation to protect Hong Kong's"democratic methods of existence."International market opinion also turned unfavorable after leading U.S. Democrat Nancy Pelosi's announcement of the introduction of an official impeachment inquiry into President Donald Trump, stating he betrayed his oath of office by seeking assistance from a foreign power to harm his Democratic rival Joe Biden.Meanwhile, the domestic investor opinion was weighed down following the Asian Development Bank on Wednesday aggressively cut India's growth forecast to 6.5percent for the current financial crisis.  On the flip side, the Rupee, meanwhile, depreciated 7 paise against its last near 71.08 in ancient session.International petroleum benchmark Brent crude dropped 0.71percent to 62.65 per barrel (intra-day).  On September 24, overseas portfolio investors sold shares worth a net of $828.49 crore, while national institutional investors purchased stocks worth 472.81 crore, provisional data revealed.

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