Sensex Loses 280 Points, Nifty At 11,350

The domestic equity market started the week on Monday on a negative note on weak global cues. The S&P BSE Sensex opened at 37,693.19 and the Nifty50 at 11,474.95. In the first few minutes of the trade, the Sensex traded at 37,588.54, down 280.69 points or 0.74 per cent and the Nifty50 at 11,350.55, with a loss of 78.95 points or 0.69 per cent. The top losers in the Nifty50 were Vedanta, State Bank of India (SBI), Tata Motors, ICICI Bank and Hindalco, which lost between 1.71-3.31 per cent.

Eleven out of 12 stocks in the Nifty PSU Bank index traded with losses.

HDFC Bank, HDFC, SBI, Reliance Industries and ICICI Bank contributed the most to the losses in the 30-share Sensex pack.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1.3 per cent to a five-week low. Japan’s Nikkei lost 1.6 per cent with every bourse in the region in the red.

In commodity markets, gold found little in the way of safety flows and was last down at $1,208.21 an ounce.

Oil prices were mixed with Brent off 14 cents at $72.67 a barrel, while US crude added 2 cents to $67.65.
(With Reuters inputs)

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