Sensex ends 196 pts lower on weak global cues

Sensex ends 196 pts lower on weak global cues
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Mumbai: Equity benchmark Sensex fell by 197 points on Monday, tracking weak global cues and unabated foreign fund outflows.

Similarly, the NSE gauge Nifty slipped by 95 points. 

Auto stocks were at the receiving end with investor sentiment taking a hit after the government proposed a hike in registration fees for old and new vehicles and changes in scrappage policy to give a boost to electric vehicles.

Among the Sensex constituents, Tata Motors was the biggest loser with 6.52 percent fall, followed by Vedanta 5.09 percent, Bajaj Auto 4.99 percent, Maruti Suzuki 4.26 percent and Tata Steel 2.65 percent. Of the 30 stocks of Sensex, 23 ended in the red and only 7 closed in the green.

Among the gainers were ICICI Bank, HCL Tech, IndusInd Bank, TCS, Infosys, SBI and Bharti Airtel -- gaining as much as 3.32 percent.

The 30-share Sensex ended 196.82 points, or 0.52 percent, lower at 37,688.28, while the broader NSE Nifty fell 95.10 points, or 0.84 percent, to settle at 11,189.20.

In Asian markets, Shanghai Composite Index, Hang Seng, Nikkei, and Kospi closed lower ahead of US-China trade talks.