Markets: Sensex plunges 900 pts from day’s high on geopolitical concerns

Stock market
The Indian market erased all its morning gains and slipped into the red on Monday after media reports said the Chinese troops ‘carried out provocative military movements in Eastern Ladakh to change the status quo’ but they were blocked by Indian soldiers, the government said today. The incidents took place in the between August 29-30 night. READ MORE

Volatility index, India VIX, shot up over 13 per cent to above 20 levels.

Among the benchmark indices, the S&P BSE Sensex was trading 360 points, or around 1 per cent, lower at 39,050 levels. Earlier in the session, the index had briefly reclaimed the 40,000 mark. The NSE’s Nifty also gave up the crucial 11,600-mark.

Sun Pharma (down 4%), IndusInd Bank and SBI (both down 3%), and Kotak Mahindra Bank (down 2.5%) were the top Sensex laggards. On the other hand, ONGC was up 2 per cent.

The Nifty sectoral indices were all in the red, led by Nifty Metal index, down 2.5 per cent.

The broader fared worse as compared to the benchmarks, with the S&P BSE MidCap and SmallCap indexes trading 2 per cent and 3 per cent lower, respectively.


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