Sensex tanks 470 factors; Nifty drops beneath 14,300

Image Source : PTI Sensex tanks 470 factors; Nifty drops beneath 14,300
Equity benchmark Sensex plunged 470 factors on Monday, monitoring losses in index majors Infosys, HDFC and ICICI Bank amid a weak pattern in world markets. After a uneven session, the 30-share BSE index ended 470.40 factors or 0.96 per cent decrease at 48,564.27. Similarly, the broader NSE Nifty tumbled 152.40 factors or 1.06 per cent to 14,281.30.
ONGC was the highest loser within the Sensex pack, shedding round 5 per cent, adopted by Sun Pharma, PowerGrid, Bajaj Finance, IndusInd Bank, Dr Reddy’s and Maruti.
On the opposite hand, Reliance Industries, Titan, HDFC Bank and ITC have been the gainers.
Domestic equities witnessed pullback for the second consecutive day as weak world cues continued to weigh on traders’ sentiments, stated Binod Modi, Head-Strategy at Reliance Securities.

“Barring FMCG, most of the key sectoral indices witnessed sharp correction and volatility index soared over 5 per cent today before recovering from top. A sharp rebound in RIL along with buying interest in HDFC Bank after strong 3Q numbers offered support to benchmark Nifty index,” he stated.
Elsewhere in Asia, bourses in Shanghai and Hong Kong ended within the constructive zone, whereas Seoul and Tokyo have been within the crimson.
Stock exchanges in Europe have been additionally buying and selling on a damaging notice in early offers.
Meanwhile, the worldwide oil benchmark Brent crude was buying and selling 0.22 per cent decrease at USD 54.98 per barrel.
Latest Business News