Sensex ends lower at 3-wk-low of 38,564.88 pts on 3rd day in row

Mumbai, Apr 23 (UNI) Extending losses for the third straight session
on Tuesday, the BSE Sensex fell by 80.30 points to end volatile
session at a three-week-low of 38,564.88 due to persistent sell-off
in Telecom, Auto, Power, Realty and Finance stocks amid boiling oil
prices after United States warned of sanctions on all buyers of
Iranian oil.
The Nifty of National Stock Exchange (NSE) too declined by 18.50
points to 11,575.95.
The Sensex, which had plummeted by 495.10 points on Monday, edged
higher by 126 points to 38,771.27 in the morning trade. It increased
by 187 points to touch day's high of 38,832.61 in intra day, only to
pare early gains and slid by 127 poitns to hit day's low of
38,518.26 before closing negative at 38,564.88, down by 80.30 points
versus its last close.
The selling in sectoral indices like Telecom, Utilities, Auto,
Power, Realty and Finance dragged the market down for the third
consecutive day today, along with scrips of Maruti Suzuki, Yes Bank,
IndusInd Bank, Tata Steel and HeroMoto Corp.
While, buying in ONGC, Sun Pharma, Bajaj Finance and Reliance
Industries capped its further decline, brokers informed.
The broader markets ended on a mixed note, as the S&P BSE Mid-Cap
index went up 0.03 per cent while the Small-Cap index shed by 0.13
pc.
Elsewhere in Asia, most stock markets fell Tuesday as oil prices
surged to nearly six-month-high after the US threatened to impose
sanctions on all buyers of Iranian oil.
The Trump administration said on Monday that it would no longer
exempt any countries from US sanctions if they continue to buy oil
from Iran. The deadline expires on May 2.
The administration had granted eight waivers when it reimposed
sanctions on Iran in November.
Asian countries, namely China, India, Japan and South Korea, are
major importers of Iranian oil.