Sensex tanks nearly 600 points in early trade; Nifty below 15,600

Stock market

By Administrator_ India

Capital Sands

Equity benchmark Sensex plunged nearly 600 points in early trade on Monday, tracking losses in index-heavyweights ICICI Bank, SBI and L&T amid a steep correction in global equities.

The 30-share BSE index was trading 596.78 points or 1.14 percent lower at 51,747.67 in initial deals. Similarly, the broader NSE Nifty tumbled 175.35 points or 1.12 percent to 15,508.

M&M was the top loser in the Sensex pack, shedding over 2 percent, followed by L&T, UltraTech Cement, ICICI Bank, Maruti, and SBI.

On the other hand, NTPC, HUL, Sun Pharma, and Asian Paints were among the gainers.

In the previous session, Sensex ended 21.12 points or 0.04 percent higher at 52,344.45, while Nifty inched 8.05 points or 0.05 percent lower to 15,683.35.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 2,680.57 crore on Friday, as per provisional exchange data.

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