Sensex Slips 300 Points as Asian Markets Remain Under Pressure

Sensex plunges 300 points while Nifty tests 7,500 as China opens lower on disappointing Dec inflation.

Published
Business
1 min read
A man watches Indian Indian stock market indices on a display screen on the facade of the Bombay Stock Exchange (BSE) (Photo: AP)

The S&P BSE Sensex plunged over 300 points in morning led by losses in ICICI Bank, HDFC, L&T, SBI and Tata Motors.

The Nifty came under pressure and slipped below 7,500 to hit its fresh 52-week low of 7495.65, weighed down by losses in realty, power, oil & gas, metal, consumer durable, and banking stocks.

Sensex Slips 300 Points as Asian Markets Remain Under Pressure
Sensex Slips 300 Points as Asian Markets Remain Under Pressure

The rupee depreciated 27 paise to 66.92 against the US dollar on Monday amid mixed trading in other Asian markets.

The domestic currency had closed 30 paise higher at 66.63 on Friday.

Rupee fell as Asian currencies remained directionless after data showed the Chinese CPI reading inched up to 1.6 percent in December from 1.5 percent in the previous month.

China’s major stock indexes opened lower on Monday after weak December inflation data was released at the weekend.

(The Quint is available on Telegram. For handpicked stories every day, subscribe to us on Telegram)

Stay Updated

Subscribe To Our Daily Newsletter And Get News Delivered Straight To Your Inbox.

Join over 120,000 subscribers!