Sensex rises over 500 points in early trade
Equity benchmark Sensex fell over 500 points in early trade on Monday, tracking heavy losses in HDFC twins, ICICI Bank and Kotak Bank amid weak cues from global markets. The 30-share BSE index was trading 515.54 points or 0.97 per cent lower at 52,624.52 in opening deals, while the broader NSE Nifty fell 146.75 points or 0.92 per cent to 15,776.65.
HDFC Bank was the top laggard in the Sensex pack, falling over 2 per cent, followed by HDFC, IndusInd Bank, Kotak Bank, Axis Bank and ICICI Bank.
On the other hand, NTPC, Bharti Airtel, Titan, PowerGrid and Reliance Industries were among the gainers.
In the previous session, the Sensex ended 18.79 points or 0.04 per cent lower at 53,140.06, while the broader NSE Nifty slipped 0.80 points or 0.01 per cent to 15,923.40.
Foreign institutional investors (FIIs) were net sellers in the capital market as they sold shares worth Rs 466.30 crore on Friday, according to provisional exchange data.
Binod Modi, Head-Strategy, Reliance Securities, said, “Domestic stocks are not looking inspiring right now. The overall financial burden may be on the visible stress in asset quality along with the subpar June quarter performance by HDFC Bank during the weekend. is.”
Asian stocks fell across the board, as pessimism led to regionally rising COVID-19 infections and Wall Street’s first weekly loss after three weeks of gains.
In mid-session deals, sacks were trading with heavy losses in Shanghai, Hong Kong, Seoul and Tokyo.
Meanwhile, international oil benchmark Brent crude fell 1.16 per cent to $72.74 a barrel.
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