Sensex Slumps On Poor Global Cues, P Notes Worry

By Sunil Fernandes
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    Benchmark indices ended the day sharply lower led by losses across the board after reports that the Supreme Court-appointed SIT has asked regulator SEBI to identify real owners of foreign funds coming through the P-Note route.

    The Sensex ended the day with losses of 550 points, while the Nifty fell 159 points in trade.

    Read more on P Notes here

    Sensex Slumps On Poor Global Cues, P Notes Worry
    Indices

    Tata Steel fell sharply in trade by more than 4 per cent after commodity shares took a drubbing following a drop in the Chinese markets. Bharti Airtel, Hindalco and Axis Bank were the other Nifty losers.

    Shares in several mid caps fell after their results failed to meet expectations. Havells India, Hitachi Home and Agro Tech Foods were among the shares that were sold after results lagged estimates.

    Shares in SUN TV rallied after the Delhi High Court allowed the company to participate in FM auctions. Read the SUN TV report here

    Banking shares were once against hit with ICICI Bank, Axis Bank , Bank of India, Yes Bank among the top losers.

    Andhra Bank, however, bucked the trend and had a good session ending higher after the company's results beat expectations.

    Among the sectors that were worst hit today were the auto space where Hero Motor Corp, Tata Motors and TVS Motors and Eicher Motors saw heavy selling pressure.

    Meanwhile, markets across the globe saw huge fall led by the Chinese Shanghai Composite which fell 8.48 per cent.

    Meanwhile, markets across the globe saw huge fall led by the Chinese Shanghai Composite which fell 8.48 per cent.

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