Sensex tanks over 400 points in early trade; Nifty drops below 14,800

1 week ago 11

Mumbai: Equity benchmark Sensex tumbled implicit 400 points successful aboriginal commercialized connected Monday, dragged by losses successful scale majors HDFC twins, ICICI Bank and Reliance Industries contempt a affirmative inclination successful planetary markets.

The 30-share BSE scale was trading 434.90 points oregon 0.87 per cent little astatine 49,594.93, and the broader NSE Nifty dropped 109.35 points oregon 0.74 per cent to 14,758.

IndusInd Bank was the apical laggard successful the Sensex pack, shedding implicit 3 per cent, followed by Bajaj Finance, Axis Bank, SBI, Bajaj Auto, Bajaj Finserv, ICICI Bank, HDFC twins and Reliance Industries.

On the different hand, Infosys, HCL Tech, Tech Mahindra, TCS and Bharti Airtel were among the gainers.

In the erstwhile league connected Thursday, Sensex ended 520.68 points oregon 1.05 per cent higher astatine 50,029.83, and Nifty roseate 176.65 points oregon 1.2 per cent to settee astatine 14,867.35.

Foreign organization investors (FIIs) were nett buyers successful the superior marketplace arsenic they purchased shares worthy Rs 149.41 crore connected Thursday, arsenic per speech data.

Financial markets were closed connected April 2, for ?Good Friday'.

Domestic equities bash not look to beryllium inspiring astatine the moment. A crisp spike successful coronavirus cases successful the state and resultant restrictions are apt to dent investors' sentiments successful the adjacent term, said Binod Modi, Head - Strategy astatine Reliance Securities.

"Imposition of play lockdown successful Maharashtra, which contributes implicit 13 per cent of the country's GDP and astir 20 per cent of India's concern output, does not augur well," helium added.

Elsewhere successful Asia, bourses successful Seoul and Tokyo were trading connected a affirmative enactment successful mid-session deals. Markets successful Shanghai, Hong Kong and Australia were closed for holidays.

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Meanwhile, the planetary lipid benchmark Brent crude was trading 0.89 per cent little astatine USD 64.28 per barrel. 

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