Mumbai, May 18 (PTI) Equities went into a tailspin today

after a three-session surge, with benchmark Sensex plunging

224 points and Nifty closing below 9,500, as global markets

were roiled by the latest crisis surrounding US President

Donald Trump.

Asian markets nosedived, tracking the biggest single-

session slump in US shares in eight months yesterday on fears

that the controversy over the firing of the FBI chief may

scuttle Trump’s pro-business agenda and even lead to his

impeachment, brokers said.

The global volatility added to the caution in domestic

market, which was already in an over-bought position following

the recent record-setting spree and succumbed to profit

booking, they added.

The 30-share Sensex stayed in the negative zone

throughout the session and hit a low of 30,393.72, before

settling at 30,434.79, down 223.98 points or 0.73 per cent.

It had gained 470.62 points back-to-back in the previous

three sessions to hit record highs.

Likewise, the 50-scrip NSE barometer Nifty plunged 96.30

points, or 1.01 per cent, to close at 9,429.45 after shuttling

between 9,418.10 and 9,489.10.

Foreign portfolio investors (FPIs), after remaining

buyers for the past few sessions, sold shares worth a net Rs

731.39 crore yesterday, as per provisional data. Domestic

investors, on the other hand, purchased shares worth a net

Rs 614.51 crore.

“Market reacted to the headwinds surrounding the US

political climate and its concerns over the upcoming US

economic policies.

“Since the underlying domestic fundamentals are good, the

market participants are likely to get back on every

consolidation,” said Vinod Nair, Head of Research, Geojit

Financial Services.

In the Asian region, Hong Kong’s Hang Seng fell 0.62 per

cent, Japan’s Nikkei lost 1.32 per cent, while Shanghai

Composite Index shed 0.46 per cent.

London’s FTSE fell 1.42 per cent in early deals

while Frankfurt’s DAX shed 1.04 per cent and Paris CAC 40 lost

1.30 per cent.

Among Sensex constituents, Tata Motors emerged the

biggest loser by falling 2.55 per cent, followed by Axis Bank

at 2.15 per cent.

Bajaj Auto ended 1.94 per cent down after the company

posted a 15.48 per cent dip in its net profit at Rs 802 crore

for the fourth quarter ended March 31, 2017.

Other losers were Dr Reddy’s, M&M, L&T, HUL, RIL, ONGC,

Maruti Suzuki, SBI, Bharti Airtel, ITC Ltd and Tata Steel.

Wipro, TCS, Infosys, Lupin, Sun Pharma and Asian Paints

made headway on sustained buying and cushioned the fall.

Sectorally, the BSE realty index suffered the most by

losing 3.12 per cent, followed by metal (2.76 per cent), power

(2.14 per cent), capital goods (2.09 per cent), consumer

durables (2.08 per cent), auto (1.98 per cent), PSU (1.60 per

cent), FMCG (1.54 per cent), oil&gas (1.52 per cent), bank

(1.25 per cent) and healthcare (0.85 per cent).

The broader markets too succumbed to profit-booking. The

BSE mid-cap index fell 2.16 per cent, while the small-cap

index shed 2.04 per cent.

Market breadth continued to be negative as 2,059 stocks

closed lower, 687 finished higher while 164 ruled steady.

The total turnover on BSE amounted to Rs 4,309 crore,

lower than Rs 6,808.38 crore registered during the previous

trading session.

This is published unedited from the PTI feed.