Sensex drops over 300 factors in early commerce; Nifty beneath 14,700

Mumbai, March 22

Equity benchmark Sensex tumbled over 300 points in early trade on Monday, tracking losses in index majors Reliance Industries, HDFC Bank and ICICI Bank amid a weak trend in global markets.

The 30-share BSE index was trading 305.33 points or 0.61 per cent lower at 49,552.91, and the broader NSE Nifty fell 76 points or 0.52 per cent to 14,668.

PowerGrid was the top loser in the Sensex pack, shedding around 2 per cent, followed by Reliance Industries, ICICI Bank, HDFC Bank and IndusInd Bank.

On the other hand, Sun Pharma, Dr Reddy’s, Asian Paints and Infosys were among the gainers.

In the previous session, Sensex ended 641.72 points or 1.30 per cent higher at 49,858.24, and Nifty surged 186.15 points or 1.28 per cent to finish at 14,744.

Foreign institutional investors were net buyers in the capital market on Friday as they bought shares worth Rs 1,418.43 crore, as per exchange data. PTI

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