Sensex Cracks Over 480 Points, Nifty Below 11,600

The benchmark BSE Sensex ended 495 points lower on Monday tracking losses in index heavyweights RIL, HDFC and ICICI Bank, amid weak global cues, sinking rupee and soaring crude oil prices.

The 30-share index settled 495.10 points or1.26  per cent lower at 38,645.18. The broader Nifty slipped 158.35 points, or 1.35 per cent, to 11,594.45.

Yes Bank and Reliance Industries were the biggest losers in the Sensex pack, dropping up to 2.66 per cent, followed by IndusInd Bank, Bharti Airtel, Asian Paints, Kotak Bank, Tata Motors, Axis Bank, ICICI Bank, HDFC, Maruti, M&M, Bajaj Finance and SBI, shedding up to 1.72 per cent.

Bucking weak market trend, TCS, PowerGrid, HCL Tech, Infosys, HDFC Bank and NTPC rose up to 1.31 per cent.

“The accelerating scenario of a slowdown in global growth as also the definitive prospects of higher fuel prices and a weaker currency may also be working on the minds of the market participants at this juncture,” he added.

Meanwhile, foreign institutional investors (FIIs) purchased equity worth Rs 1,038.46 crore on Thursday, and domestic institutional investors (DIIs) sold shares to the tune of Rs 337.59 crore, provisional data available with stock exchanges showed.

The rupee depreciated nearly 50 paise to 69.84 against the US dollar in early trade.

Brent crude futures, the global oil benchmark, was 2.06 per cent higher at USD 73.84 per barrel. Elsewhere in Asia, benchmark equity indices in Shanghai, Tokyo and Seoul were trading in the red in early trade.

(PTI)