Market continues its losing streak, Sensex tanks 372 points

The Indian benchmark indices BSE Sensex and NSE Nifty continued their losing streak and ended for the day at 37,090.82 and 11,148.20, down by 372.2 and 130.70 points, respectively.

The major stocks that brought the benchmark indices down were Sun Pharma, Yes Bank, Tata Steel, IndusInd Bank and Tata Motors.

The pharma major Sun Pharma was down by nearly 20 per cent on account of heavy volumes, but the reason behind this fall was not known. However, it later recovered and settled for the day at Rs. 396.85, down by 9.39 per cent.

Yes Bank, Tata Steel and IndusInd Bank were down by 5.58 per cent, 3.22 per cent and 3.20 per cent respectively.

Tata Motors ended lower by 3.09 per cent as its group global sales declined by 22 per cent to 79,923 units.

BSE Small Cap & Mid Cap indices were down by 2.15 per cent and 1.84 per cent, respectively.

Meanwhile, foreign investors have taken out the net amount of Rs 3,207 crore from the Country's capital market in the first week of May amid US President's decision to impose tariff on USD 200 billion products imported from China. In addition to this, uncertainty over the election result also weiged on the market sentiments.