Mumbai: Losses in major shares in the Indian market combined with a weak trend in global markets caused the Indian equity benchmarks, Sensex and Nifty to slump on Tuesday’s trading.
Sensex plummeted by 355 points following sharp declines in HDFC twins, ICICI Bank and Bharti Airtel. Weak global market cues also affected the sentiment adversely.
The 30-share BSE index closed the day 354.89 points or 0.68 per cent lower at 52,198.51, while the broader NSE Nifty crashed by 120.30 points or 0.76 per cent to 15,632.10.
IndusInd Bank was the top loser in the Sensex pack, shedding over 3 per cent, followed by Tata Steel, NTPC, Bharti Airtel, HCL Tech, ICICI Bank, M&M and HDFC Bank.
On the other hand, Asian Paints rallied over 6 per cent, followed by UltraTech Cement, Bajaj Auto, HUL and Nestle India.
Indian equities extended losses as weak global cues and continued selling pressure in financials dragged benchmark indices. Barring FMCG and IT, most key sectoral indices contracted, with financials, metals and realty witnessing steep correction.
Midcap and Smallcap shares also witnessed heavy selling pressure on profit-booking by jittery investors due to weak global market trends.
On the global front, share markets in Shanghai, Hong Kong, Seoul and Tokyo ended with losses, while equities in Europe were largely trading with gains in mid-session deals.