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Markets End In deep Red, Banking Stocks Fall Sharply


India’s share markets slipped heavily on Monday with a rise in crude oil prices towards $70-per barrel and were further dragged after the rupee hit its lowest level weaker at 71.93 against the dollar. .

The Sensex closed 788-pts downwards at 40,677, while the Nifty settled 234pts lower at 11,993.

Among stocks, Titan Company, Wipro, DrReddy’s, and TCS were only the four stocks that gained in the Nifty50 index, with the rest 46 stocks ending the day in the red.

SBI, Bajaj Finance, Vedanta, Zee Entertainment and Yes Bank were the top losers, down between 3.8 and 4.58-percent.  Get Free trading tips and the latest stock tips updates from the experts.

All sectoral indices were closed negatively for the day with Nifty PSU Bank declining the most, down 4.34%, while Nifty Metal cracked 2.9 percent lower.

Nifty Bank declined 2.59% and Nifty Auto, Nifty Realty slipped over 2.42 percent each. Nifty FMCG & Pharma were also down 1% and 1.5%, respectively.