Sensex tanks over 300 points, Nifty slips below 11,450; Wipro gains 1.74%

The key Indian equity indices — Sensex and Nifty — opened in the negative territory on Monday tracking weak Asian markets. The Sensex of the BSE plunged over 300 points to hit an intra-day low of 37,784.50 points in opening trade. The Nifty of the National Stock Exchange, too, fell 97 points to a low of 11,417.70 points.

Shares of Axis Bank, Tata Motors, SBI, IndusInd Bank, Yes Bank, Tata Steel Hero MotoCorp, HDFC, HDFC Bank and Asian Paints were amongst the top laggards on the BSE Sensex index. Wipro was the top gainer on the Sensex and traded higher by 1.17% in early morning trade.

Around 9.22 am, the Sensex was trading 267.96 points, or 0.70%, lower at 37822.68 points. The NSE Nifty 50 index was trading at 11,425.85 points, down 89.35 points, or 0.78%. Most Asian share markets slipped on Monday amid reports Washington was about to announce a new round of tariffs on Chinese imports, setting the stage for possible reprisals by Beijing, said a Reuters report.

The Indian stock market ended higher on Friday riding on positive macro data, lower crude oil, weakness in US dollar and optimism ahead of PM Modi’s economic review meeting due later in the evening. The Sensex rallied 373 points and Nifty closed higher at 11,515.20.

Bombay Stock Exchange - BSE

National Stock Exchange of India Ltd (NSE)