Mumbai, November 22

Equity benchmark Sensex plunged over 400 points in early trade on Monday, tracking losses in index majors Reliance Industries, Kotak Bank and Bajaj Finance amid a weak trend in global markets and persistent foreign fund outflows.

The 30-share index was trading 435.74 points or 0.73 per cent lower at 59,200.27. Similarly, the Nifty fell 129.85 points or 0.73 per cent to 17,634.95.

Reliance Industries (RIL) was the top loser in the Sensex pack, shedding around 4 per cent after the company shelved a proposed deal to sell a 20 per cent stake in its oil refinery and petrochemical business to Saudi Aramco for USD 15 billion.

It said its energy portfolio had changed with the foray into a new energy business, which would require a re-evaluation of the deal.

Other laggards include Maruti, Bajaj Finance, Kotak Bank and Bajaj Finserv.

On the other hand, Bharti Airtel, PowerGrid, Asian Paints, IndusInd Bank and ITC were among the gainers.

In the previous session, Sensex ended 372.32 points or 0.62 per cent lower at 59,636.01. Similarly, the NSE Nifty fell 133.85 points or 0.75 per cent to 17,764.80.

Foreign institutional investors were net sellers in the capital market, as they offloaded shares worth Rs 3,930.62 crore on Thursday, as per exchange data.

Elsewhere in Asia, bourses in Hong Kong and Tokyo were trading with losses in mid-session deals, while Shanghai and Seoul were positive.

Meanwhile, international oil benchmark Brent crude fell 0.06 per cent to USD 78.84 per barrel. PTI