Sensex tanks 400 points on weak global cues; Nifty down 100 points

Mumbai : Weak global markets amid the US-China trade concerns plunged the key Indian equity indices on Monday afternoon, with the S&P BSE Sensex losing around 400 points so far.

The wider NSE Nifty50 also lost over 100 points during the intra-day trade. Among the sectors, heavy selling pressure was witnessed in banking, consumer durables and auto stocks.

Globally, market sentiments were subdued on reports that the US might announce fresh tariffs on Chinese imports.

At 12.50 p.m., the Nifty50 on the National Stock Exchange traded at 11,410.00 points, lower by 105.20 points or 0.91 per cent from the previous close.

The BSE Sensex, which had opened at 38,027.81 points, traded at 37,680.58 points, lower by 410.06 points or 1.08 per cent from the previous close of 38,090.64 points.

So far, it has touched an intra-day high of 38,027.81 points and a low of 37,597.05 points.

The top gainers on the Sensex were Tata Steel, Wipro, IndusInd Bank, Power Grid and Bharti Airtel, while the major losers were HDFC, NTPC, State Bank of India, HDFC Bank and Tata Motors (DVR).