Sensex Falls Over 300 Points; Tata Motors, ICICI Bank Among Top Losers

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11:35 a.m.: Tata Motors DVR was the top Nifty loser, down 4.5 per cent at Rs 298.70. Tata Motors, ICICI Bank, Idea Cellular, Tata Steel, BHEL, Axis Bank, Hindalco and L&T were also among the losers, down 1.76-4 per cent each.

11:12 a.m.: Stock markets extends losses, Sensex falls 312 points to 26,323 and Nifty declines 88 points to 8,082.

10:49 a.m.: Capital goods stocks were witnessing selling pressure. The BSE Capital Goods index was down 1.4 per cent; BHEL was the top loser from this space, down 2.7 per cent at Rs 120.35. Kalpatru Power, Solar Industries, Larsen & Toubro, Reliance Defence, Suzlon Energy and BEML were also among the losers.

10:43 a.m.: Market breadth is extremely bearish as 1,322 stocks fall while 685 advance.

10:41 a.m.: Shares of Fortis Healthcare slumped as much as 5 per cent after the company said its subsidiary has received an order from the Directorate General of Health Services (DHS) to deposit Rs 503.36 crore for non-compliance of conditions of land allotment lease.

Fortis Healthcare shares fell 4.92 per cent to hit intraday low of Rs 160.25 on BSE.(Read)

10:26 a.m.: Welspun Enterprises shares surged nearly 11 per cent on Monday after Tata Power signed an agreement to buy the renewable energy business of Welspun group for an undisclosed amount.

“Welspun Energy Private Limited has signed a SPA with Tata Power Renewable Energy for divestment of its subsidiary Welspun Renewable Energy Private Limited,” Welspun Enterprises said in a release to Bombay Stock Exchange on Monday.(Read)

9:57 a.m.: Banking stocks were leading the losses in trades so far. The Nifty Bank index fell 1.4 per cent and PSU Bank Nifty tumbled 2.2 per cent. ICICI Bank was the top loser, down 3.6 per cent at Rs 243.55. Punjab National Bank, Axis Bank, Bank of Baroda, State Bank of India, Bank of India and Federal Bank were also among the losers, down 1.63-2.73 per cent each.

9:51 a..m.: Stock markets continue to witness selling pressure. Sensex plunges 293 points to 26,342 and Nifty falls 79 points to 8,091.

9:41 a.m.: The broader markets were in-line with the benchmark indices. The BSE mid-cap and small-cap indices were down 0.65 per cent each. From the mid-cap space, Jindal Steel was the top loser, down 2.2 per cent at Rs 63. Indian Bank, Allahabad Bank, Indian Hotels, Indiabulls Housing Finance, Union Bank, LIC Housing Finance and Bajaj Finserv were also among the losers, down 1.7-2 per cent each.

9:33 a.m.: From the Nifty-50 basket of stocks, 43 were declining while only eight were advancing.

ICICI Bank was the top Nifty loser, down 2.65 per cent at Rs 245.90. Tata Motors DVR, Bank of Baroda, Tata Steel, State Bank of India, Hindalco, Axis Bank, Idea Cellular and BHEL were also among the losers, down 1.44-2 per cent each.

On the other hand, BPCL, Lupin, Cipla, Coal India, HCL Technologies and Sun Pharma were among the prominent gainers.

9:25 a.m.: Sensex fell over 250 points and the broader Nifty tumbled below its crucial psychological level of 8,100 on the back of weak global cues as risk aversion prevailed in risk assets across the globe ahead of key events like Brexit vote and US Fed meet which will kick off from tomorrow.

Meanwhile, weaker than expected factory output data declared post the market hours on Friday also added to the negative sentiment on Dalal Street.

As of 9:20 a.m., the Sensex traded 239 points lower at 26,396.74 and Nifty was at 8,103, down 67 points.

Other Asian markets were also trading with deep cuts; Tokyo’s benchmark stock index tumbled three per cent in morning trade Monday as a sharp jump in the yen dented exporters, with worries about the global economy and Britain’s EU vote casting a dark cloud over markets.

Hong Kong’s Hang Seng fell 2.5 per cent and Shanghai Composite declined 0.8 per cent.