Sensex, Nifty fall over 1% as banks slide; markets closed for Dussehra
The Sensex closed down 876.37 points at 73,852.90 and the Nifty fell 257.20 points on Monday as private bank stocks slid; markets were closed Tuesday for Dussehra.
Indian equities ended sharply lower on Monday as heavy selling in private banking stocks dragged the benchmarks down over 1 per cent. The Sensex closed 876.37 points lower at 73,852.90, while the Nifty 50 shed 257.20 points to settle at 22,888.95.
Only the Nifty PSU Bank index managed to end in the green, as investors rotated into state-owned lenders. Elevated crude oil prices above $108 a barrel kept worries over imported inflation and corporate margins firmly in focus.
Both exchanges remained shut on Tuesday for Dussehra and will resume trading on Wednesday. Traders say the near-term direction will hinge on global cues, crude prices and the ongoing earnings season.
