Indian equity benchmarks opened sharply lower on Monday, with the BSE Sensex plunging over 1,000 points in early trade amid broad-based selling across sectors
Indian equity benchmarks opened sharply lower on Monday, with the BSE Sensex plunging over 1,000 points in early trade amid broad-based selling across sectors.
At 9:15 am, the Sensex was trading at 80,241.86, down 1,045.33 points or 1.29 per cent, after opening sharply lower at 78,543.73. The index touched an intraday high of 80,103.15 and a low of 78,543.73 in volatile opening trades. It had closed at 81,287.19 in the previous session.
The broader Nifty 50 also declined 319.20 points, or 1.27 per cent, to 24,859.45 after opening at 24,659.25 against its previous close of 25,178.65. Market breadth was decisively negative, with 46 declines against just 4 advances on the index.
IT, Auto lead declines
Information technology and auto stocks bore the brunt of the selloff.
Among Sensex constituents, TCS fell 1.57 per cent, HCLTech dropped 1.66 per cent, and Tech Mahindra declined 1.78 per cent.
Auto majors were also under pressure, with Maruti Suzuki sliding 2.94 per cent and Mahindra & Mahindra down 2.19 per cent. Aviation stock IndiGo tumbled 4.66 per cent in early trade.
Heavyweight stocks added to the drag. Reliance Industries declined 1.37 per cent, while banking majors such as HDFC Bank, ICICI Bank and State Bank of India traded in the red
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