MARKETS LIVE: Sensex, Nifty extend losses; RIL, bank stocks top drags

Benchmark indices extened their losses in Monday's morning session, dragged down by Reliance Industries and bank stocks.

The benchmark S&P BSE Sensex dipped 290 points, or 0.73 per cent, to 39,452, with Vedanta, Tata Steel, Tata Motors, Reliance Industries, and IndusInd Bank among the top losers. The broader Nifty50 index was down 40 points, or 0.34 per cent, to 11,783.

All the Nifty sectoral indices except Nifty IT and Nifty Pharma were trading in the red, with Nifty Metal, down 1.4 per cent, taking the deepest cut.

In the broader market, the S&P BSE MidCap index was trading at 14,657, down 63 points or 0.43 per cent, while the S&P BSE SmallCap was down 49 points, or 0.34 per cent, at 14,317.

BUZZING STOCKS

Shares of Reliance Infrastructure (RInfra) hit an over 28-year low of Rs 52.70, down 10 per cent on the BSE on Monday in the early morning trade after the auditors raised questions about the company’s ability to continue in business. READ MORE

Shriram Transport Finance Company shares dipped 8 per cent to Rs 1,000 in morning deal on the National Stock Exchange (NSE) on Monday after Piramal Enterprises sold its entire 9.96 per cent stake in the company through open market. READ MORE

Shares of New Delhi Television (NDTV) skid 8 per cent to Rs 32.10 during the early morning trade on the BSE on Monday, after markets regulator the Securities and Exchange Board of India (Sebi) banned the group chairman Prannoy Roy and director Radhika Roy from assessing the capital market for two years. READ MORE