Sensex snaps 3-day gains, sheds over 300 Points

Sensex snaps 3-day gains, sheds over 300 Points

Agency News

Mumbai: The benchmark index of the Bombay Stock Exchange (BSE)Sensex snapped the 3-day gains and fell as much as 319 points in the early-hour trades.

Benchmark Index of the National Stock Exchange (NSE), Nifty dropped 81 points to 11,500 as banking shares came under selling pressure.

The losses in Indian markets were in line with weakness in other Asian peers which fell after the US lawmakers called for an impeachment inquiry into President Donald Trump, increasing the prospects of prolonged political uncertainty in the world's largest economy. Back home, HDFC, HDFC Bank, Kotak Mahindra Bank, State Bank of India, Axis Bank, ICICI Bank. Shares of Indiabulls Housing Finance fell as much as 3.37 per cent to Rs. 420 after CARE revised its ratings long-term rating of Indiabulls Housing Finance from 'CARE AAA' to 'CARE AA+. Top five losers were Bank of India down 2.64%, Bank of Baroda down 1.97%, Kotak Mahindra Bank down 1.86%, RBL Bank down 1.68% and Axis Bank down 1.40%.

Top gainers were Power Grid Corp up by 3.70 percent to Rs.197.50, Bajaj Finserv up by 1.46 percent to Rs.8361, TCS up by 1.15 percent to Rs.2068 and Zee Entertain up by 1.13 percent to Rs.282.15.