Sensex falls over 250 points, Nifty slips below 11,400

The Indian rupee on Monday touched an all-time low of 69.62 per dollar in early trade.

Sensex falls over 250 points, Nifty slips below 11,400

New Delhi: Markets fell sharply on Monday as global markets continue to reel under pressure amid Turkey contagion and ahead of key CPI inflation due to be announced later in the day.

The BSE Sensex fell 286.35 points or 0.76 percent to 37,582.88 in early trade. In  a similar fashion, the NSE Nifty fell 63.90 points or 0.56 percent at 11,365.60.

The Indian rupee on Monday touched an all-time low of 69.62 per dollar in early trade on concerns about Turkey contagion spilling over to other emerging market currencies.

The benchmark Sensex scaled fresh record highs last week, with the benchmark BSE Sensex touching the 38,000 level for the first time, it gained 313.07 points to finish at 37,869.23, while the broader Nifty closed at 11,429.50, following sustained capital inflow and healthy earnings boosted the sentiment.

The laggards were Vedanta, Tata Motors, NTPC, HDFC, Power Grid, RIL, ONGC, ICICI Bank, HDFC Bank, Tata Steel, Maruti Suzuki, Asian Paints, Yes Bank, Adani Ports, Kotak Bank, Yes Bank and L&T, falling up to 3.98 percent.

Foreign funds sold shares worth Rs 510.66 crore, while domestic institutional investors bought equities worth Rs 457.83 crore on Friday, provisional data showed.

Asia share markets skidded and the euro hit one-year lows on Monday as a renewed rout in the Turkish lira infected the South African rand and drove demand for safe harbours, including the U.S. dollar, Swiss franc and yen.

The run from risk dragged MSCI`s broadest index of Asia-Pacific shares outside Japan down 1.3 percent to a five-week low. Japan`s Nikkei lost 1.6 percent with every bourse in the region in the red.

EMini futures for the S&P 500 were off 0.4 percent, while 10-year Treasury yields dipped further to 2.85 percent.

With Agency Inputs

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