Closing bell: Sensex sheds 273 points, Nifty ends at 10671; OMC stocks drag

Benchmark indices BSE Sensex and NSE’s Nifty 50 fell nearly 1% on Wednesday draged by losses in shares of oil marketing companies after oil prices rose to the highest level in a month as the risk of a supply crunch continued to haunt markets. Moreover, signs of escalating trade war tensions between US and other world economies heaped more pressure on stocks. The Indian rupee weakened to a 19-month low against the US dollar over concerns that higher crude oil prices will worsen fiscal balance and accelerate inflation. Foreign investors sold shares worth Rs538.40 crore on net basis, while local investors bought equities to the tune of Rs238.05 crore on Tuesday, showed provisional data. Get Instant Free Trial click hereReference By- https://www.livemint.com/Money/tsTgUnrCxi8XSmKc0RS01M/Stock-Market-LIVE-Sensex-Nifty-set-for-cautious-start-For.html