Sensex tanks over 400 factors in early commerce; Nifty slips under 14,800

Mumbai, March 31

Equity benchmark Sensex tumbled over 400 points in early trade on Wednesday, dragged by losses in index majors HDFC twins, Infosys and ICICI Bank amid a negative trend in global markets.

The 30-share BSE index was trading 440.84 points or 0.88 per cent lower at 49,695.74, and the broader NSE Nifty dropped 116.05 points or 0.78 per cent to 14,729.05.

The HDFC duo was the top laggard in the Sensex pack, shedding over 2 per cent, followed by Tech Mahindra, PowerGrid, ICICI Bank, Infosys and Kotak Bank.

On the other hand, Bajaj Finserv, Reliance Industries, NTPC, Sun Pharma, Axis Bank and Maruti were among the gainers.

In the previous session, Sensex ended 1,128.08 points or 2.3 per cent higher at 50,136.58, and Nifty settled at a nearly two-week high of 14,845.10.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 769.47 crore on Tuesday, as per exchange data.

Elsewhere in Asia, bourses in Shanghai, Hong Kong and Tokyo were in the red in mid-session deals, while Seoul was trading marginally higher.

Meanwhile, the global oil benchmark Brent crude was trading 0.45 per cent higher at USD 64.46 per barrel. PTI

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