Sensex tanks 1,068 points, banking stocks major drag

New Delhi: Equity benchmark Sensex plunged over 1,000 factors at closing on Monday dragged by losses in banking stocks.

The BSE Sensex tanked 1068.75 factors or 3.44 p.c to 30,028.98. On the opposite hand, the NSE Nifty declined 303.75 factors or 3.32 p.c to eight,833.10.

Other than Infosys and TCS, all the opposite stocks within the BSE Composite index led to crimson. Major laggards had been IndusInd Bank, Ultrachem, ICICI Bank, HDFC, Axis Bank, Maruti, Bajaj Auto, Bajaj Finance, SBI, Heromotocorp, L&T and HDFC Bank, falling upto 10.02 p.c.

In the earlier session, the BSE barometer settled 25.16 factors or 0.08 per cent decrease at 31,097.73, and the broader Nifty slipped 5.90 factors, or 0.06 per cent, to shut at 9,136.85.

Foreign portfolio buyers offloaded equities value Rs 2,388.04 crore within the capital market on Friday, provisional alternate knowledge confirmed.

Analysts consider that the Rs 20 lakh crore Atmanirbhar Bharat package deal is but to supply the impetus to markets.

In the final set of measures, Finance Minister Nirmala Sitharaman on Sunday introduced plans to privatise PSUs in non-strategic sectors and droop mortgage default-triggered chapter filings for one yr, and likewise gave a Rs 40,000-crore hike in allocation for the agricultural employment assure scheme to supply jobs to migrant employees.

Further, the federal government final evening prolonged the lockdown for 2 extra weeks with the fourth section offering extra relaxations exterior the containment zones.

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