Sensex falls over 310 points

The Sensex has plunged over 310 points in opening trade due to sell-offs mainly in financial, metal and auto stocks amid subdued global cues. Similarly, the NSE gauge Nifty too has dropped over 84 points to slip below the psychological 11,500-level.

Yes Bank, IndusInd Bank, Tata Steel, Sun Pharma, Vedanta and Tata Motors were among the top losers on the Sensex chart whereas IT stocks—HCL Tech, TCS, Infosys—were the major gainers.

The BSE S&P Sensex was down by 300 points at 38,522 whereas the Nifty 50 has slipped by 87 point to 11,425. At the National Stock Exchange, most sectoral indices were in the red except for FMCG and IT.

The Sensex was gripped by volatility as the trade progressed and dived 310.80 points or 0.80 points to trade at 38,511.77 in early deals. Whereas, the Nifty was down 84.05 points or 0.74 points to 11,427.55.

Analysts have attributed the sluggish start for the Indian markets to subdued global cues. Reliance Capital has touched a 52-week low of Rs 26.70, declining 5 percent on 30th September after the company concluded the selling of its stake in Reliance Nippon Life Asset Management.

Asian stock markets, including China’s, were hardly changed shrugging off news that the US administration is considering delisting Chinese companies from US stock exchanges, Reuters report said.

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