Sensex plunges 504 points, Nifty goes below 11,450; SBI dips by 7.70%
Mumbai: The S&P BSE Sensex and NSE Nifty 50 indexes had a steep fall owing to broad-based sell off. The Sensex slid 504 points to hit 38593.52 and the NSE Nifty 50 went down by 148 points to hit 11440.20.
The erosion in the Indian markets is in line with the other Asian markets, which responded negatively after an impeachment inquiry against President Donald Trump was suggested by against by US legislators, increasing fears of political uncertainty in the US
Tata Motors, State Bank of India, Mahindra & Mahindra, HDFC, HDFC Bank, State Bank of India, Maruti Suzuki, Eicher Motors, Hindalco and Tata Steel were among the top Nifty 50 losers.
HDFC, HDFC Bank, State Bank of India, ICICI Bank, Maruti Suzuki and Kotak Mahindra Bank recorded the maximum decline on the Sensex.
State Bank of India shares hit their lowest point since November 21, 2016, data from BSE reflected. The shares of the country’s biggest lender plummeted 7.70% to hit Rs 279.30.
Market breadth declined sharply with 1,756 shares falling while 672 shares on the rise on the BSE. On the NSE 1,300 shares showed improvement while 1,300 declined.
Apart from Nifty IT index, all other sector gauges fell with Nifty PSU Bank index leading the way, falling below 5 per cent. Nifty Realty, Nifty Auto, Nifty Metal, Nifty Private Bank and Nifty Media indexes recorded a decline between 1.4-3.85% each.
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