The S&P BSE Sensex index fell as much as 249.17 points to 40,806.52 in the first few minutes of trade, and the broader NSE Nifty benchmark slid to as low as 11,965.80, down 80 points from the yesterday close. Losses on all sectors except media shares pulled the market lower.
At 9:27 am, the Sensex traded 220.84 points or 0.54 per cent lower at 40,834.85, while the Nifty was down 79.45 points or 0.66 per cent at 11,966.35.
There are Forty-five stocks on the 50 scrip index traded in the negative zone at the time. Here are the top percentage losers were Yes Bank, IndusInd Bank, Hindalco, Tata Motors and Hero MotoCorp, down between 1.56 per cent and 4.85 per cent. However, top Nifty gainers were Zee Entertainment, Tech Mahindra, Cipla and HCL Tech, trading between 0.22 per cent and 1.51 per cent higher. Reliance Industries, HDFC and ITC were the top drags on the Sensex.
Reliance Industries, HDFC and ITC were the top drags on the Sensex. Equities in other Asian markets fell following US markets, which retreated from record highs after Apple said it will not meet its revenue guidance for the March quarter.
Read EquityPandit’s Nifty Outlook for the Week