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Sensex tumbles 335 pts; Nifty gives up 11,150

Source: PTI
July 30, 2020 16:51 IST
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IndusInd Bank was the top laggard in the Sensex pack, falling over 5 per cent, followed by HDFC, Axis Bank, PowerGrid, SBI, Bajaj Finserv and Bharti Airtel.

Domestic equity benchmark Sensex slumped 335 points on Thursday, dragged by losses in financial stocks amid negative cues from global markets.

The 30-share BSE benchmark ended 335.06 points or 0.88 per cent lower at 37,736.07; while the NSE Nifty tumbled 100.70 points or 0.90 per cent to 11,102.15.

 

IndusInd Bank was the top laggard in the Sensex pack, falling over 5 per cent, followed by HDFC, Axis Bank, PowerGrid, SBI, Bajaj Finserv and Bharti Airtel.

On the other hand, Sun Pharma, Maruti, Infosys and Reliance Industries were among the gainers.

According to Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi, Indian markets opened in green following mixed global cues as US Fed kept rates on hold.

However, during the afternoon session, market sentiment turned cautious as doubts rose on further deterioration of the asset quality of financial companies.

The selloff was led by banks and financial stocks, he added.

Markets also turned choppy on the expiry of July derivatives, traders said.

Bourses in Shanghai, Hong Kong and Tokyo ended in the red, while Seoul settled on a positive note.

Stock exchanges in Europe were trading with losses in early deals.

Global oil benchmark Brent crude was trading 1.27 per cent lower at $43.53 per barrel.

In the forex market, the rupee fell 4 paise to close at 74.84 against the US dollar.

Photograph: Danish Siddiqui/Reuters

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