The Sensex, Nifty underwent heavy selling pressure on Monday which sent the BSE benchmark tumbling down 505 points. The NSE Nifty plunged 137.45 points to 11,377.75 due to heavy selling in consumer durables, FMCG, banking & healthcare stocks.
Reliance Industries stock went down 2.12%, HDFC shed 2.38%, HDFC Bank plunged 1.81, ITC shed 1.65% and Infosys fell 1.18% that stood among the major components that dragged the Sensex index down by over 1.19%.
Shares of Sun Pharma fell 2.85% to Rs 646.15 on BSE as the top index loser while PowerGrid was the top performer with gains of 0.70%. Other stocks that rallied in trade were TCS, Adani Ports, IndusInd Bank and Tata Steel.
Rising for the third consecutive trading session, sugar stocks such as Rana Sugars, Ugar Sugar, KM Sugar, Magadh Sugar & Energy went up to 20% on the govt’s announcement of hike in price of ethanol for blending in petrol by 25%