Sensex tumbles over 300 factors in early commerce; Nifty under 15,300

Mumbai, February 17

Equity benchmark Sensex dropped over 300 points in early trade on Wednesday tracking losses in index majors HDFC twins, ICICI Bank and TCS amid a weak trend in global markets.

The 30-share BSE index was trading 310.50 points or 0.60 per cent lower at 51,793.67.

Similarly, the broader NSE Nifty was quoting 74.35 points or 0.49 per cent down at 15,239.10.

Nestle India was the top loser in the Sensex pack, shedding around 4 per cent, followed by ONGC, HDFC, TCS, PowerGrid and ICICI Bank.

On the other hand, Bajaj Auto, SBI, Bajaj Finance and Reliance Industries were among the gainers.

In the previous session, Sensex settled 49.96 points or 0.10 per cent lower at 52,104.17, and Nifty inched 1.25 points or 0.01 per cent lower to close at 15,313.45.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 1,144.09 crore on Tuesday, according to exchange data.

According to Binod Modi Head-Strategy at Reliance Securities, domestic markets do not look to be inspiring at the moment. A continued buying from FPIs has been a major driving force for the market in the recent period. PTI 

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