Sensex declines 394.40 pts to close at 38,220.39

Mumbai, Aug 20.  Snapping a rally of last three sessions, the BSE Sensex on Thursday crashed by 394.40 pts to settle at 38,220.39 as selling was witnessed in Telecom, Energy, Bankex, Finance and Technology stocks amid weak global cues. The Nifty of National Stock Exchange fell by 96.20 pts to 11,312.20. The Nifty recorded days high and low at 11,361.45 and 11,289.80 pts respectively. The day opened on a negative note at 38,283.90, fell by 331 pts. During the day, it dropped by 459 pts to 38,155.78, days low before closing at 38,220.39, sliding by 394.40 pts from its previous close. The sectoral indices like, Telecom, Energy, Finance, Bankex and Technology stocks dragged the market. However, buying in Utilities, Power, Metal and Oil and Gas capped from further losses, broker informed.
In scrips, HDFC, Axis Bank, ICICI Bank, Bharti Airtel and M& M slipped, while NTPC, ONGC, Powergrid, Tata Steel and HCL Technologies rose. The Mid Cap rose by 0.87 pc and Small Cap by 0.72 pc.
In 30 scrips, 25 declined, 4 rose while one remained unchanged.