Sensex slumps 410 pts, Nifty drops below 17,750

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Mumbai: Equity benchmark Sensex tumbled by 410 points on Tuesday, tracking losses in Infosys, ICICI Bank and HDFC twins amid a weak trend in global markets.

After plunging over 1,032.35 during the session, the 30-share Sensex pared some losses to end 410.28 points or 0.68 per cent lower at 59,667.60. Similarly, the Nifty declined 106.50 points or 0.60 per cent to 17,748.60.

Bharti Airtel was the top loser in the Sensex pack, shedding nearly 4 per cent, followed by Tech Mahindra, Bajaj Finance, Bajaj Finserv, HCL Tech and Infosys.

On the other hand, PowerGrid, NTPC, Sun Pharma, Titan, Kotak Bank and Dr Reddy’s were among the gainers.

“Following negative global cues and profit-booking in IT and realty sectors, the domestic market hit rough weather, however, it witnessed a rebound towards the closing,” said Vinod Nair, Head of Research at Geojit Financial Services.

A rise in US bond yields and crude oil price along with the Chinese crisis acted as key headwinds to the ongoing rally in the global market, he added.

Elsewhere in Asia, bourses in Shanghai and Hong Kong ended with gains, while Tokyo and Seoul were in the red.

Stock exchanges in Europe were also trading on a negative note in mid-session deals.

Meanwhile, international oil benchmark Brent crude rose 0.89 per cent to USD 79.42 per barrel.

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