From Financialexpress · Oliviya Kunjumon · · 1m 10s
Sensex Plunges 876 Points, Nifty Breaks 22,900
Indian stock markets drop sharply as private banks and IT stocks lead to 876-point Sensex plunge.
In brief
Indian stock markets drop sharply as private banks and IT stocks lead to 876-point Sensex plunge. Indian stock markets fell 876 points on Sensex and 257 points on Nifty as private banks and IT stocks drove losses. Originally reported by Financialexpress.
Market Closing Today
Indian stock markets ended Monday on a weak note after a sharp selloff.
Sensex Plunges 876 Points
The Sensex plunged 876 points, while the Nifty fell 257 points to close below 22,900.
Private Banks Take Biggest Hit
Private banks were among the biggest drags after their September-quarter results raised concerns over margins and future earnings.
Axis Bank, HDFC Bank, YES Bank Fall
Axis Bank, HDFC Bank and YES Bank fell by up to 5%.
Nifty Private Bank Index Drops
The Nifty Private Bank index fell nearly 2% and the Nifty Bank index lower by around 1%.
PSU Banks Buck Trend
Public-sector banks stood out in an otherwise weak session.
Global Concerns and Crude Oil Focus
Brent crude hovered around $107, 108 per barrel, keeping concerns over India’s import bill and inflation in focus.
The one thing
Indian stock markets fell 876 points on Sensex and 257 points on Nifty as private banks and IT stocks drove losses.
