Sensex loses 347 points, snaps four-day bull run

Mumbai (Maharashtra) [India], May 31 : Benchmark indices of the domestic equity market ended in the red on Wednesday, tracking weak global cues. Data of China's manufacturing activity falling more than expected dented investor sentiment in Asian markets.
BSE 30-share Sensex went down 347 points and settled at 62,622.24 and NSE Nifty lost 99 points and ended at 18,534.40 on Wednesday. The indices snapped four-day bull run.
Top gainers were Bharti Airtel, Asian Paints, Tech Mahindra and Sun Pharmaceutical and Tata Motors. Laggards were Axis Bank, State Bank of India, HDFC, Reliance Industries and HDFC Bank. Except for IT, realty and health care, all other sectoral indices in the red on Wednesday.
In Asian markets, Hong Kong's Hang Seng lost 361 points, Japan's Nikkei dropped 440 points, China's Shanghai lost 19 points and S-P ASX dropped 113 points.
In the US markets, Nasdaq, S-P/BMV, NYSE Composite and S-P 500 were trading in the positive territory and Dow Jones Indu dropped 50.56 points.
In the European market, CAC, BEL, Deutsche Borse were trading in the negative territory, FTSE 100 dropped 8 points, FTSE 250 declined 5 points and IBEX 35 lost 2.60 points.
On Wednesday, Chinese manufacturing and services data were revealed for May and the news dented the hopes of the revival of the world's second-largest economy after the end of strict Covid-led restrictions late last year.
Rupee closed flat at 82.72 per US dollar against Tuesday's close of 82.71 per US dollar on Wednesday.
Brent Crude is down 0.43 per cent to USD 73.664 per barrel at 20.23 GMT.
According to NSE, domestic institutional investors (DIIs) on Tuesday turned net sellers, with Rs 438.93 crore whereas foreign institutional investors (FIIs) were net buyers, with Rs 2,085.62 crore.
According to BSE, the shares of Reliance Industries were trading 2.10 per cent down at Rs 2,466.95 apiece at closing on Wednesday. State Bank of India was also down 1.99 per cent at Rs 581 per share at closing on Wednesday.