Sensex crashes nearly 300 points, Nifty slips below 11,300

New Delhi: Stock market crashed on Tuesday amid choppy trade and negative global cues following reports of fresh US tariffs announced on Chinese imports.

The BSE Sensex fell 294.84 points to 37,290.67. The NSE Nifty went down by 98.85 points to 11,278.90.

Among the sectors, banking stocks witnessed heavy selling pressure, a day after the government proposed to merge the Bank of Baroda, Vijaya Bank and Dena Bank. The other major losing sectors were metal and auto.

Intra-day, Sensex touched a high of 37,745.44 points and a low of 37,242.85 points.

The losers on the Sensex were  SBI (4.06 Percent ), Tata Motors (3.36 Percent), Bajaj-Auto (2.84 Percent), Axis Bank (2.81 Percent), Bharti Airtel (2.31 Percent), ICICI bank (2.07 Percent), Vedanta (1.94 Percent), NTPC (1.68 Percent), Maruti (1.56 Percent), Power grid (1.41 Percent), HDFC (1.20 Percent) And LT (1.16 Percent).