Sensex drops over 350 points, Nifty slips below 11,400

New Delhi: Markets closed in the red on Monday in tandem weak global cues with both the equity indices falling above 90 percent.

The BSE Sensex tanked 355.70 points or 0.93 to 37,808.91 while the NSE Nifty closed 102.65 points or 0.90 percent down at 11,354.25.

Major losers in the Sensex pack were L&T, RIL, SBI, Axis Bank, Sun Pharma, Kotak Bank, HDFC, ICICI Bank, M&M, Yes Bank, Tata Motors and Vedanta, falling by upto 3.28 percent. Bucking the trend, ONGC, CIL, Powergrid, NTPC, Bajaj Finance and HDFC Bank closed in green, rising by upto 3.90 percent.

FIIs were a net buyers worth Rs 1,374.57 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 657.37 crore, provisional data available with BSE showed.