Sensex ends 224 pts lower on global cues

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Mumbai, Aug 13: The benchmark indices ended lower taking cues from their global cues.
The S&P BSE Sensex ended the day at 37,645 down 224 points while the Nifty50 index settled at 11,356 down 74 points.
Earlier today, the Rupee hit a record low of 69.53 against the dollar.
Banks were the top losers today, with Nifty PSU Bank index falling over 3%, while Nifty Bank index slipped over 1%.
Shares of Vakrangee tanked 18% to Rs 51.50 on the BSE in intra-day trade after the company reported a sharp 92% fall in its consolidated net profit at Rs 131 million in June quarter (Q1FY18). It had profit of Rs 1,680 million in the same quarter last fiscal.
The company’s total revenue declined 21% at Rs 10.28 billion against Rs 13.05 billion in the corresponding quarter of previous fiscal. EBITDA (earnings before interest, tax, depreciation and amortization) margin stood at 2.4% in Q1FY19 as compared to 20.3% in Q1FY18.
Global markets
Turkey’s lira recouped some of its losses as the country’s central bank took steps to stem the currency’s freefall while Asian shares were a sea of red as investors fled to safer assets such as the dollar, Swiss franc and yen.
The run from risk dragged MSCI’s broadest index of Asia-Pacific shares outside Japan down 1.6 per cent to a near one-year low. Japan’s Nikkei lost 1.7 per cent with every bourse in the region in the red. China’s blue-chip index shed 1.5 per cent, while Hong Kong stocks lost 1.6 per cent as the local dollar fell to the limits of its trading band. Much of the action was in currencies with the euro gapping lower as the Turkish lira took another slide to all-time lows around 7.2400.