Sensex tanks over 500 points, Nifty slips below 15,800
The Hindu
HDFC Twins, ICICI, Kotak Bank track heavy losses
Equity benchmark Sensex plunged over 500 points in early trade on Monday, tracking heavy losses in HDFC twins, ICICI Bank and Kotak Bank amid weak cues from global markets. The 30-share BSE index was trading 515.54 points or 0.97% lower at 52,624.52 in initial deals, while the broader NSE Nifty fell 146.75 points or 0.92% to 15,776.65. HDFC Bank was the top loser in the Sensex pack, shedding over 2% , followed by HDFC, IndusInd Bank, Kotak Bank, Axis Bank and ICICI Bank.
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Equity indices decline due to foreign fund outflows, weak US markets, and tariff threats, impacting Sensex and Nifty.
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Benchmark indices Sensex and Nifty decline for third day due to tariff threats, weak Asian markets, and foreign fund outflows.
Rupee strengthens against the dollar, supported by weakening American currency, amid global economic uncertainties and foreign fund outflows.