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Markets fall for 2nd day; Sensex tanks 418 points, Nifty slides below 11,700

Major losers in the sensex pack were Heromoto Corp, Maruti, L&T, Bajaj Auto, M&M, HUL, Tata Motors, SBI, Kotak Bank, ONGC, HDFC Bank and NTPC, falling upto 3.33 percent.

Markets fall for 2nd day; Sensex tanks 418 points, Nifty slides below 11,700

New Delhi: Falling for the second day after the presentation of Union Budget 2019, markets slided on Monday tracking global cues.

The BSE Sensex tanked 418.03 points or 1.06 percent to  39,095.36 in early trade while the NSE Nifty dropped 128.50 points or 1.09 percent at 11,682.65.

Major losers in the sensex pack were Heromoto Corp, Maruti, L&T, Bajaj Auto, M&M, HUL, Tata Motors, SBI, Kotak Bank, ONGC, HDFC Bank and NTPC, falling upto 3.33 percent.

On the other hand, shares of Yes Bank, HCL, ITC, Sun Pharma and Infosys were major gainers, rising upto 5.33 percent.

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

Among Asian peers, MSCI`s broadest index of Asia-Pacific shares outside Japan lost more than 1%, with every market in the red.  Japan`s Nikkei faltered 0.9%. Chinese shares started lower with the blue-chip index off 1.7% and Hong Kong`s Hang Seng index down 1.5%. South Korea`s KOSPI was off 1.8% and Australian shares slipped about 1% to a five-week low, a Reuters report said.

With Agency Inputs