Sensex plunges by 350 pts over US polls' fear

October 29, 2020 10:20

Equity benchmark Sensex plunged over 350 points in early trade on Thursday amid negative cues from global markets as rising coronavirus cases and uncertainty over US presidential elections weighed on investor sentiment. Market participants were also cautious ahead of the expiry of October derivatives contracts, traders said.

The 30-share BSE index was trading 365.19 points or 0.91 per cent lower at 39,557.27. Similarly, the broader NSE Nifty tumbled 106.90 points or 0.91 per cent to 11,622.70. Titan was the top laggard in the Sensex pack, dropping over 4 per cent, followed by L&T, ONGC, Tech Mahindra, Bajaj Auto, HUL and Nestle India. On the other hand, Axis Bank, Asian Paints, UltraTech Cement and HCL Tech were among the gainers.

In the previous session, Sensex ended 599.64 points or 1.48 per cent lower at 39,922.46, and Nifty tanked 159.80 points or 1.34 per cent to close at 11,729.60 Exchange data showed that foreign institutional investors sold equities worth Rs 1,130.98 crore on a net basis on Wednesday. -- PTI

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