MUMBAI: The benchmark Sensex plunged by 1,018 points to settle at a two-week low while Nifty cracked below 23,100 on Tuesday due to across-the-board selling, unabated foreign fund outflows and fresh US tariffs reigniting trade war fears.
Declining for the fifth day running, the 30-share BSE Sensex tanked 1,018.20 points or 1.32 per cent to close at 76,293.60. During the day, it tumbled 1,281.21 points or 1.65 per cent to 76,030.59.
The NSE Nifty fell 309.80 points or 1.32 per cent to 23,071.80, with 44 of its constituents closing lower and six registering gains.
Realty, industrial, consumer discretionary and capital goods sector shares were major losers as the US confirmed fresh 25 per cent duties on all steel and aluminium imports. European Union leaders also vowed a “firm” response to US tariffs, fanning fears of a trade war.
Laggards
Among the 30 Sensex shares, Zomato fell by over 5 per cent, while Tata Steel, Bajaj Finserv, Tata Motors, Power Grid, Larsen & Toubro, Kotak Mahindra Bank, Hindustan Unilever and ITC were among the biggest laggards. Bharti Airtel was the sole gainer among Sensex scrips.
Over the past five days, the BSE bellwether has slumped 2,290.21 points or 2.91 per cent, while the Nifty has declined by 667.45 points or 2.81 per cent.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs2,463.72 crore on Monday, according to exchange data.
