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Bloodbath continues on Dalal Street; Sensex tanks 792 points, Nifty falls below 11,600

The BSE Sensex fell 792.82 points or 2.01 percent to 38,720.57 while the NSE Nifty closed 252.55 points or 2.14 percent to 11,558.60.

Bloodbath continues on Dalal Street; Sensex tanks 792 points, Nifty falls below 11,600

New Delhi: Markets continued to bleed throughout the day with both equity indices closing over 2 percent lower on poor investor sentiment on followed by Union Budget proposals and global market sell-off .

The BSE Sensex fell 792.82 points or 2.01 percent to 38,720.57 while the NSE Nifty closed 252.55 points or 2.14 percent to 11,558.60.

Analysts also believe that caution ahead of the June quarter earnings season also led to the market fall.

Top losers in the Sensex pack were Bajaj Finance, ONGC, Heromoto Corp, Maruti, NTPC, L&T, SBI, IndusInd Bank, Tata Motors, Axis Bank, Kotak Bank and Power grid, declining upto 8.18 percent. Bucking the trend, Yes Bank, HCL, and TCS closed in the positive, rising upto 5.56 percent.

Intra-day sensex touched a high of 39,476.38 and low of 38,605.48 while the Nifty shuttled between high of 11,771.90 and low of 11,523.30.

Shares of Punjab National Bank (PNB) tanked 10.95 after the bank said that it had been defrauded of Rs 3,805.15 crore by Bhushan Power & Steel Ltd (BPSL). The news comes in just over a year the state-run bank had been defrauded to the tune of 13.500 by jeweller Nirav Modi and his uncle Mehul Choksi.

On a net basis, foreign institutional investors sold equities worth Rs 89.38 crore, while domestic institutional investors purchased shares to the tune of Rs 275.63 crore, provisional data showed.

In the previous session on Friday, the BSE Sensex fell 394.67 points or 0.99 percent to close at 39,513.39 while the NSE Nifty settled at 11,811.15, down 135.60 points or 1.14 percent.