Nifty Bank ends 2.62% lower. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) VOLUME RBL BANK 528.70 564.60 -35.90 -6.36 2439591 PUNJAB NATL.BANK 68.85 72.85 -4.00 -5.49 37473021 INDUSIND BANK 1674.20 1762.45 -88.25 -5.01 4685458 IDFC BANK 38.55 40.50 -1.95 -4.81 13407362
The benchmark indices settled lower for the fifth straight session, falling 1.5 per cent weighed by financial and automobile stocks.
The S&P BSE Sensex ended at 36,305, down 537 points. The index had hit an intraday low of 36,216.95. The broader Nifty50 index settled at 10,975, down 168 points, hitting an intraday low of 10,943.60.
The bank stocks ended in red with Nifty Bank index slipping 2.6 per cent due to fall in share prices of RBL Bank and Punjab National Bank (PNB). The Nifty Auto index also fell 3.7 per cent due to a fall in Mahindra & Mahindra and Eicher Motors.
In the broader markets, the S&P BSE MidCap index settled 2.4 per cent while the S&P BSE SmallCap index slipped 2.7 per cent.
The Reserve Bank of India (RBI) and the market regulator Securities and Exchange Board of India (SEBI) are closely monitoring developments in financial markets and are ready to take appropriate steps if needed, a central bank statement said on Sunday.
NBFCs extend fall
Asian shares stumbled in holiday-thinned trading on Monday as China’s decision to cancel talks with the United States sparked fears of a protracted trade war, while oil rallied as Saudi Arabia ruled out increasing supplies to cool crude prices.
Investors were squarely focused on the Sino-US trade war as China added $60 billion of US products to its import tariff list, retaliating against US duties on $200 billion of Chinese goods that came into effect earlier on Monday.
(with wire inputs)