Sensex tumbles over 289 pts; bank, auto stocks drag
Mumbai: The benchmark Sensex on Tuesday fell over 289.13 points to close at 37,397.24 due to heavy selling mainly in banking, auto and oil & gas stocks as tepid corporate earnings and auto sector woes weighed on investors' sentiment.
Besides, sustained foreign fund outflows continued to spook the domestic equity market.
The 50-share NSE Nifty too dropped 103.80 points to settle at 11,085.40.
In the Sensex pack, Yes bank emerged as the biggest loser, falling 9.13 percent, followed by IndusInd Bank (6.6 percent), HeroMotoCorp (6.01 percent), Sun Pharma (4.79 percent) and SBI (4.70 percent).
Other losers were Tata Steel, Vedanta, Tata Motors, Reliance, Axis Bank, ONGC, HDFC, and ICICI Bank, among others.
On the other hand, Bharti Airtel topped the gainers' chart, up 3.19 per cent, followed by TCS (2.32 per cent), HCL Tech (0.83 per cent), ITC (0.49 per cent), HDFC Bank (0.39 per cent), L&T (0.36 per cent), HUL (0.19 per cent), Infosys (0.16 per cent) and NTPC (0.08 per cent).
Sectorally, BSE metal was the worst performer with a 3.25 percent drop. Other major laggards were energy (2.42 percent), basic materials (2.32 percent), oil & gas (2.14 percent), auto (2.12 percent) and bankex (1.86 percent).
In Asian markets, the Shanghai Composite Index, Hang Seng, Nikkei, and Kospi closed on a positive note ahead of US-China trade talks and Federal Reserve policy.
