Sensex again dips by 323 points

Market held its fort until lunch hours on Tuesday but could not sustain and started slipping in post lunch hours to tank more than 300 points in the last half an hour of trade. Rise of crude oil prices in the international market led to negative sentiments hit the stocks of oil retailers led by Reliance.

The BSE Sensex closed at 38,276.63, down by 323.71 points or 0.84 per cent, while Nifty50 closed at 11,497.90, down by 100.35 points or 0.87 per cent on Tuesday. The most traded index Nifty Bank closed down by 330.25 points or 1.12 per cent at 29,288.20.

On a broader market basis, mid-caps and small-caps followed the suit and Nifty Mid-cap 100 was down by 1.16 per cent, while Nifty Small-cap 100 was marginally up by 0.98 per cent. Among mid-cap stocks ZEEL and Dish TV dipped more than 10 per cent, whereas DHFL slipped 9 per cent.

Among the top losers were Tata Motors, ICICI Bank, Bharti Airtel, Reliance, Vedanta, Asian Paint. Tata Motors lead the loser down more 5 per cent, while ICICI Bank, Bharti Airtel and Reliance were down more than 3 per cent. On Nifty ZEEL and JSW Steel were also among top losers.

Continuing the trend of the last trading session, sectorally, Nifty IT was the only index in green, while Nifty Media and Nifty PSU Bank were in deep red down by 2.74 and 2.20 per cent, respectively. Realty and Metal indices were down 1.18 and 1.27 per cent, respectively.

Index heavyweights Reliance was dragging Sensex the most, contributing negative 133 points, followed by ICICI Bank contributing negative 94 points and ITC and Tata Motors were pull down 33 points and 18 points, respectively.