For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Sensex Plunges 321 Points As Global Markets Nosedive On Crude Oil Drop

|

Benchmark indices ended the day sharply lower, following a drop in crude prices, after Saudi Arabia's oil minister said that production cuts were not possible.

 Sensex Plunges 321 Points As Global Markets Nosedive On Crude Oil Drop
This dragged crude prices and along with it Asian and European markets, which also pulled down the Sensex and the Nifty. The Sensex ended the day lower by 321 points, while the Nifty fell 90 points in trade.
 

Leading the set of losers was Tata Motors, which dropped a huge 3 per cent. ONGC and Oil India fell following a drop in crude prices. ICICI Bank hit a new 52-week low on sustained selling pressure, while ITC fell ahead on worries that there would be fresh excise on cigarettes in the Union Budget.

Gains in some heavyweights like Reliance and Infosys managed to restrict the losses on the Sensex and the Nifty. Tata Motors DVR, which had rallied significantly following the announcement by IISL that it would be a part of the Nifty ended the day with losses on profit booking.

Select banking stocks like Axis Bank and State Bank of India managed to stay resilient in a falling market.

Mid cap stocks ended the day lower with stocks like GMR and IDBI Bank seeing a good rally in trade. Meanwhile, markets across Europe were trading with losses with the German DAX and the French CAC seeing cuts of almost 1 per cent.

GoodReturns.in

Read more about: sensex nifty
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more