Sensex Nifty Drag Sharply on continued Sell Off

The Indian share market, which took a negative signals from Asian markets, opened with a loss on Monday morning session with Nifty below 10,850, followed by FPI surcharge announced in the budget.

At around 9.55am, The BSE Sensex fell 574-pts at 36543-level and the NSE Nifty slipped 178-pts at 10819-mark.

Yes bank, Tata Motors, Vedanta, SBI and JSW Steel were major losers in the Nifty, while TCS, Infosys and HDFC were major front-runners.

Through sector, barring Nifty IT index which gained 0.78pc, all the sectoral stocks are seen in the red, wherein maximum selling pressure seen in Nifty PSU Bank (-4.63%) followed by Nifty bank (2.52%), Media (-2.31%) and Auto Auto (-2.14%).

The majority of metal stocks declined at the start of trading with Nifty metal index falling over 3%. Shares of Jindal Steel, WelspunCorp, JSW Steel and Vedanta fell 4% to 6% in range.

At the Commodity watch, Crude Oil prices declined amid concerns about weaker crude demand after US President Donald Trump stated he would implement tariffs on more Chinese imports.

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