Market falls on global sell-offs, Jammu and Kashmir tensions

Mumbai: Equity benchmark Sensex Monday crashed over 418 points to slip below the 36,700-level, a near five-month low, as massive global sell-offs and growing political uncertainties in Kashmir rattled investors' sentiment. Likewise, the NSE gauge Nifty dived nearly 135 points to close at 10,862.60. Both benchmark indices -- Sensex and Nifty -- saw an intense volatility throughout the session due to multiple headwinds like escalation in US-China trade war, weak corporate earnings, rupee downfall and political tensions in Jammu and Kashmir.

After cracking over 700 points in day trade, the 30-share index pared losses to close at 36,699.84, still down by 418.38 points, or 1.13 per cent. It hit a low of 36,416.79 and a high of 36,844.05. The 50-share Nifty plunged by 134.75 points or 1.23 per cent to close at 10,862.60 points as 38 of its constituents declined.

Among the top losers in the Sensex pack were: Yes Bank (8.15 per cent), Tata Motors (5.25 per cent), PowerGrid (4.42 per cent), RIL (3.48 per cent) and Kotak Bank (3.13 per cent).

On the other hand, Bharti Airtel, TCS, Tech Mahindra, HDFC and Bajaj Auto emerged as top gainers. Sectorally, except IT other indices ended in the red led by energy (down 2.7 per cent) followed by metal, bank, auto, FMCG, infra and pharma. BSE Smallcap and Midcap index fell over 1 per cent.

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