Market erases all gains, Nifty falls below 23,300
At close, the Sensex was down 422.59 points or 0.54% at 77,155.79, while the Nifty fell 168.60 points or 0.72% at 23,349.90.
Indian markets traded trembled during the intraday trade on Monday with Sensex down 20 point or 0.13% at 40,272.61, while Nifty50 was at 11887.50 low by 20.65 points or 0.17% at 1120 hours.
Moody’s on Friday cut rate from “negative” to “stable”, citing increasing risks that India will grow at a slower pace than in the past. Stocks had ended 1% lower on Friday. BSE Sensex opened at 40,316.50 from its previous close of 40,323.61.
Yes Bank with a high 2.54% followed by Indiabulls Hsg 1.67%, IRCTC 3.96% were the top gaining active shares on the BSE.
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Meanwhile, the top gainers were: NTPC 3.28%; Yes Bank 2.32%; Tata Steel 0.80%; Tata Motors 0.83%; Kotak Mahindra 0.67%.
On the other hand, top drags were: HCL Tech -1.52%; TCS -1.43%; Sun Pharma -1.26%; Maruti Suzuki -1.01%; Asian Paints -1.05%.
(With input from agencies)
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