Sensex Slides 330 Points On Weak Global Cues; Banking Stock Fall

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Benchmark indices opened the day weak in trade as global markets fell sharply after a poor handover from the US.

Sensex Slides 330 Points On Weak Global Cues; Banking Stock Fall
Indices
Sensex27,827.53Sensex Quote-465.28 [1.64%]
Nifty8,591.25Nifty Quote-153.90 [1.76%]
The Sensex dropped almost 335 points in trade at 25,384 points, while the Nifty fell 114 points in trade at 7704 points. Leading the set of losers were banking stocks like ICICI Bank, State Bank of India, Axis Bank and HDFC Bank.

Check Sensex gainers and losers

Metal stocks which saw a spectacular rally on Thursday fell sharply in trade. Among the losers were Vedanta, Tata Steel and NMDC.

Amtek Auto once again dropped sharply in trade by almost 6 per cent as worries over debt repayment continued to weigh on the stock.

Yes Bank and Tata Motors were the top losers from the Nifty apart from metal stocks. IT stocks managed to hold ground with stocks like Infosys, TCS and Wipro showing gains in trade.

Mid cap stocks also saw some selling pressure with the index seeing a cut of close to 2 per cent in trade. Adani Power lost more than 4 per cent, while other losers were UPL, IDBI Bank, JP Associates and Glenmark Pharma.

Meanwhile, markets across Asia were trading with sharp losses, despite the Chinese premier seeking to quell fears of a Chinese slowdown.

The Japanese Nikkei and the Hang Sang were down more than 2 per cent each.

GoodReturns.in

Read more about: sensex, nifty, icici bank, upl, idbi bank
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