Tata Steel was the top gainer in the Sensex pack, followed by SBI, IndusInd Bank, HDFC, Dr Reddy’s and M&M.
Equity benchmark Sensex fell 525 points on Monday, led by losses in index majors HDFC twins, Tata Steel and ICICI Bank amid a selloff in global markets.
The 30-share BSE index ended 524.96 points or 0.89% lower at 58,490.93. Similarly, the broader NSE Nifty ended 188.25 points or 1.07% lower at 17,396.90.
Tata Steel was the top loser in the Sensex pack, falling nearly 10%, followed by SBI, IndusInd Bank, HDFC, Dr Reddy’s and M&M.
On the other hand, HUL, Bajaj Finserv, ITC and HCL Tech were among the gainers.
“Indian markets are finally seeing a short break, largely driven by panic in global markets,” said Milind Muchala, executive director, Julius Baer.
“Two major factors at play on the minds of global investors include the build-up of uncertainty in the Chinese real estate market due to the upcoming Fed meeting and tensions over one of the country’s major property players,” he said.
“While markets await clarity on the Fed’s taper plans in terms of time frame and volume, we believe it can give an advance notice on the taping at this week’s meeting, followed by November,” he added. A formal announcement may be made in the upcoming meeting.”
Elsewhere in Asia, hang seng fell by more than 3%. Stock markets in China, Japan and South Korea remained closed for the holidays.
Stock exchanges in Europe were also trading with heavy losses in mid-session deals.
Meanwhile, international oil benchmark Brent crude fell 1.92% to $73.89 a barrel.
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