Sensex dives 510 pts on political concerns; extends losses for 4th day

The BSE Sensex today dived almost 510 points -- its biggest single day fall since February 6 --- due to a major sell-off amid political concerns after the Telugu Desam Party (TDP) decided to quit the NDA and moved a no-confidence notice against the government.

Other Asian markets were also in the negative zone as investors fret over the prospect of a global trade war, accelerating selling pressure on the domestic bourses, brokers said.

For the third straight week, the flagship Sensex recorded a fall of 131.14 points, or 0.39 per cent, while the NSE Nifty lost 31.70 points, or 0.30 per cent.

Sentiment suffered a setback following fresh development on the political front after a key NDA ally, TDP, decided to quit the alliance and moved a no-confidence motion notice against the government, accelerating the selling pace by participants, brokers said.

The Lok Sabha could not take up notices for no-confidence motion against the NDA government with Speaker Sumitra Mahajan saying there was no order in the House and adjourned the proceedings for the day