Sensex plunges 600 points in afternoon trade on weak global cues; Hero MotoCorp, Axis Bank among top losers
Top losers in the Sensex pack in early trade on included Tech Mahindra, HCL Tech, Hero MotoCorp, Axis Bank, Bajaj Auto, HDFC, Bharti Airtel, M&M, TCS and Tata Motors.
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Investor sentiment remained weak over the Saudi oil turmoil, US-China trade war and global economic slowdown
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The BSE barometer settled 262 points lower at 37,123.31, while Nifty closed 79.80 points down at 10,996.10
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Vedanta, Yes Bank, Asian Paints, Tata Steel, ONGC, SBI and IndusInd Bank, rose up to 2.22%
Domestic equity benchmark BSE Sensex plunged 600 points in the afternoon trade on Tuesday, dragged by banking, energy and IT stocks, amid weak global cues.
#CNBCTV18Market | Sensex slips 600 points from highs, below 36,600 after 6 sessions pic.twitter.com/FBHu2Tae6N
— CNBC-TV18 (@CNBCTV18Live) September 17, 2019
The 30-share index was trading 602.76 points, or 1.62 percent, lower at 36,520.55 at 2.30 pm, while the broader Nifty declined 171.55 points or 1.56 percent, to 10,831.95.
In the previous session, the BSE barometer settled 262 points, or 0.70 percent, lower at 37,123.31, while the Nifty closed 79.80 points, or 0.72 percent, down at 10,996.10.
Representational image. Reuters.
Top losers in the Sensex pack in afternoon trade included Hero MotoCorp, Axis Bank, IndusInd Bank, SBI, Tata Steel, Maruti, Bajaj Auto, HDFC, Bharti Airtel, M&M, ICICI Bank, Tata Motors and Maruti, falling up to 4.76 percent.
On the other hand, HUL and Asian Paints, rose up to 1 percent.
On Monday, foreign portfolio investor (FPI) sold shares worth a net of Rs 751.26 crore, while domestic institutional investors bought equities worth Rs 308.56 crore, provisional data showed.
Investor sentiment remained weak amid geopolitical uncertainties over the Saudi oil turmoil, US-China trade war and looming global economic slowdown, experts said.
Market is now awaiting cues from the upcoming trade talks between China and the US as well as a much-anticipated policy meeting of the Federal Reserve, scheduled to begin later in the day.
Elsewhere in Asia, Shanghai Composite Index, Hang Seng and Nikkei were trading in the red in their respective late morning sessions, while Kospi was in the positive territory.
On Wall Street, bourses ended on a negative note on Monday.
The rupee, meanwhile, depreciated 17 paise against its previous close at 71.77 in early session.
Global oil benchmark Brent crude fell 0.93 percent to 68.38 per barrel (intra-day).
— With inputs from agencies