newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra
Business

SENSEX DOWN OVER 400 POINTS

BSE Sensex dropped below the 37,000 level, plunging over 400 points, in early trade on Tuesday tracking heavy selling in financial and auto stocks amid weak domestic and global cues.

The 30-share index was trading 403.87 points, or 1.08 per cent, lower at 36,928.92 at 0930 hours, while the broader Nifty sank 124.85 points, or 1.13 per cent, to 10,898.40 in early trade.

In the previous session on Friday, the BSE barometer ended 263.86 points, or 0.71 per cent, higher at 37,332.79, while the Nifty rose 74.95 points, or 0.68 per cent, to close at 11,023.25.

Financial markets remained closed on Monday on account of ‘Ganesh Chaturthi‘.Top losers in the Sensex pack in early trade on Tuesday included Tata Motors, Tata Steel, ICICI Bank, ONGCHDFC, M&M, NTPC, Vedanta, ITC and SBI, which fell up to 4 per cent.

On the other hand, IT stocks rallied as the rupee depreciated 65 paise against its earlier close to trade at 72.07 in early session. TechM, HCL Tech, TCS and Infosys jumped up to 2 per cent.

According to traders, market sentiment took a hit on account of weak macroeconomic data releases and double-digit decline in auto sales in August as the sector continued to reel under one of the worst slowdowns in its history.

Official data released after market hours on Friday showed that India’s GDP growth slipped to an over six-year low of 5 per cent in the June quarter of 2019-20, hit by a sharp deceleration in manufacturing output and subdued farm sector activity.

Related posts

Pantaloons unveils its first of kind shopping experience ‘Pantaloons OnLoop’ in India

Newsmantra

RLDA invites e- bids for leasing over 35,000 sq.m land parcel at Aurangabad

Newsmantra

Finolex Cables Expands Operations with the inauguration of Finolex Hub in Bengaluru

Newsmantra

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More