Sensex tanks over 400 factors in early commerce; Nifty drops beneath 14,800

Mumbai, April 5

Equity benchmark Sensex tumbled over 400 points in early trade on Monday, dragged by losses in index majors HDFC twins, ICICI Bank and Reliance Industries despite a positive trend in global markets.

The 30-share BSE index was trading 434.90 points or 0.87 per cent lower at 49,594.93, and the broader NSE Nifty dropped 109.35 points or 0.74 per cent to 14,758.

IndusInd Bank was the top laggard in the Sensex pack, shedding over 3 per cent, followed by Bajaj Finance, Axis Bank, SBI, Bajaj Auto, Bajaj Finserv, ICICI Bank, HDFC twins and Reliance Industries.

On the other hand, Infosys, HCL Tech, Tech Mahindra, TCS and Bharti Airtel were among the gainers.

In the previous session on Thursday, Sensex ended 520.68 points or 1.05 per cent higher at 50,029.83, and Nifty rose 176.65 points or 1.2 per cent to settle at 14,867.35.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 149.41 crore on Thursday, as per exchange data.

Elsewhere in Asia, bourses in Seoul and Tokyo were trading on a positive note in mid-session deals. Markets in Shanghai, Hong Kong and Australia were closed for holidays.

Meanwhile, the global oil benchmark Brent crude was trading 0.89 per cent lower at USD 64.28 per barrel. PTI

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