Sensex nosedives over 500 pts


Mumbai, (UNI)

The benchmark index of Bombay Stock Exchange (BSE) on Monday dropped by 506 pts at 34,665.55 as selling was seen across the board amid weak global peers.

Warning given by the standard and poor’s that the Indian economy is in deep trouble also weighed on investor sentiment.

The rater has projected the Indian economy's growth to contract by 5 per cent this fiscal.

The Nifty of National Stock Exchange too declined by 153 pts to 10,230.85.

The Sensex registered intraday high and low at 34,958.90 and 34,665 pts, respectively.

The Nifty registered intraday high and low at 10,325.90 and 10,230.85 pts, respectively.

The sectoral indices like Metal, Realty, Bankex and Industrials dragged the market.

The Mid Cap eased by 2.96 pc and Small Cap by 1.43 pc.

In 30 scrips, 26 declined and 4 advanced.

The losers were Axis Bank by 4.40 pc to Rs 406.35, IndusInd Bank by 3.70 pc to Rs 474.15, Bajaj Finance by 3.40 pc to Rs 2805.55 and Tech Mahindra by 2.83 pc to Rs 545.15.

The gainers were ITC by 1.87 pc to Rs 198.75, Nestle India Ltd by 1.13 pc to Rs 16,859.65 and Hind Unilever by 2162.60 and Sun Pharma by 0.28 pc to Rs 481.30.

A total of 586 companies including MRF, Bharat Forge, and GMR Infra, are scheduled to announce their March quarter earnings today.


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