Sensex sheds over 350 points as IAF jets striking terror camp in Balakot spook investors

New Delhi: Markets posted sharp fall in opening trade on Monday as investors were spooked by reports that Indian Air Force jets struck terror camp in Balakot.

The BSE Sensex fell over 356.16 points or 0.98 percent to 35,857.22 in early trade while the NSE Nifty fell 102.05 points or 0.94 percent to 10,778.05.

The development comes amid heightened tension between India and Pakistan after the February 14 suicide attack by Pakistan-based Jaish-e-Mohammad terror group that killed 40 CRPF soldiers in Jammu and Kashmir's Pulwama district.

The laggards that dragged the key indices include Yes Bank, Hero MotoCorp, Tata Steel, Vedanta, Sun Pharma, ICICI Bank, SBI, RIL, M&M, Kotak Bank, Bajaj Finance, Infosys, NTPC, HDFC, Maruti Suzuki, Bajaj Auto, IndusInd Bank, L&T, PowerGrid, Axis Bank, HDFC Bank, Asian Paint, ITC and ONGC, falling by up to 2.38 percent.

On the other hand, TCS, HUL and Tata Motors rose up to 0.93 percent.

Most of the BSE sectoral indices were trading in the red, led by banking, power, PSU, realty and IT stocks with losses up to 0.90 percent.

Meanwhile, DIIs sold shares worth Rs 1,764.4 crore, while foreign portfolio investors (FPIs) bought shares worth a net of Rs 2,134.35 crore on Monday, provisional data showed.

Asian shares fell from five-month high as investors waited to see if Washington and Beijing can clinch a trade deal, while the pound advanced on hopes UK Prime Minister Theresa May will delay a Brexit deadline, a Reuters report said.

MSCI`s broadest index of Asia-Pacific shares outside Japan fell 0.5 percent. Australian shares faltered 1.3 percent. Japan`s Nikkei fell 0.2 percent. Overnight, the S&P 500 rose to a near four-month peak while the Dow and the Nasdaq also gained.

With Agency Inputs