Sensex plunges 536 points, Nifty breaches 11,000 mark

Forex dealers said the greenback’s strength against other currencies overseas, after reports that China had cancelled upcoming trade talks with the US, weighed on the Indian rupee.

business Updated: Sep 24, 2018 15:53 IST

A man looks at a screen across the road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai.(Reuters File Photo)

The BSE Sensex plunged 536.58 points to close at 36,305.02 on sustained bouts of selling in realty, auto, banks, finance, telecom, industrials and healthcare stocks amid rising crude prices and weak Asian cues.

The broader Nifty 50 index slumped 168.20 points to 10,974.90.

Major losers were M&M, Maruti, HDFC, HDFC Bank, ICICI Bank, ITC, Tata Steel, IndusInd Bank and Kotak Bank, falling up to 6 per cent.

Gainers include TCS, Infosys, Coal India, Vedanta and ONGC, rising up to 3.48 per cent.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net of Rs 760.70 crore, while domestic institutional investors (DIIs) also bought equities to the tune of Rs 497.03 crore last Friday, provisional data showed.

The markets in Japan, South Korea and China are closed for public holidays.

The US-China trade war remained in focus Monday, on reports that China had called off planned trade talks with the US in the wake of a new round of duties.

In US, the Dow Jones Industrial Average last Friday notched a second straight all-time high, but a slump in technology and internet-related stocks weighed on the broader market.

First Published: Sep 24, 2018 09:52 IST