Sensex tanks 293 points on weak Asian cues; Nifty below 10400-mark

At 10am Sensex was down 0.12% at 34,151.86 points while the Nifty 50 edged down 0.14% to 10,466 points

According to official data released on Monday, India's WPI inflation softened to 2.47 per cent in March from a rise of 2.48 per cent reported for February and an acceleration of 5.11 per cent in the corresponding month of previous year.

Earlier in the day, benchmark Sensex fell as much as 300 points, or 0.9%, to 33,899.34, while the 50-share Nifty index declined 0.8%, or 85 points, to 10,396.35.

At around 9.25 a.m., the NSE Nifty50 was down 15.60 points or 0.15 per cent to trade at 10,465 points.

Tata Motors which closed 4.96% lower at 339 level was the top Sensex loser on reports that Britain's biggest carmaker Jaguar Land Rover will cut around 1,000 jobs and production at two of its English factories due to fall in sales caused by uncertainty around Brexit and confusion over diesel policy.

The BSE Midcap and the BSE Smallcap indices were fell by 0.12% and 0.04%, respectively.


On the other hand, healthcare index gained 0.75%, FMCG 0.49%, realty 0.4% and capital goods 0.36%.

Market breadth was negative with 1,253 stocks closing higher against 1416 stocks ending lower on BSE.

Infosys, Dewan Housing Finance Corporation, Tata Motors, TCS and Escorts were the top traded individual stock futures contracts in F&O segment of NSE.

Other major laggards were Wipro, Tata Motors, ONGC, Axis Bank, NTPC, RIL, Dr. Reddy's, SBI, ICICI Bank, Bharti Airtel, Asian Paints, Maruti Suzuki and Tata Steel, falling by up to 1.54 percent.

The rupee fell 20 paise against the U.S. dollar in early trade on global trade war concerns, dip in March exports and a sharp drop in domestic equities.

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