Sensex, Nifty See A Weak Start Even As Trump Continues To Claim Talks With Iran Going 'Very Well'

Sensex, Nifty Today: After rebounding for two consecutive sessions, domestic equity benchmarks started with a major gap-down on March 27, tracking weak global cues.

The BSE Sensex started with a gap-down of 389.66 points, or 0.52 per cent at 74,883.79, while the NSE Nifty 50 began 132.90 points, or 0.57 per cent, lower at 23,173.55. However, soon after the opening bell rang, as of 9:40 AM, Sensex slipped as much as 1,008.67 points, or 1.34 per cent, to hit an intraday low at 74,264.78, and Nifty 50 tumbled up to 305.60 points, or 1.31 per cent, to touch the day's low at 23,000.85.

The decline came despite a signal of temporary easing in tensions between the United States (US) and Iran. US President Donald Trump on March 26 said he would extend the pause on attacks on Iran’s energy infrastructure for 10 days, pushing the deadline to April 6, as he continues to claim that ongoing negotiations with Tehran were progressing “very well.”

Broad-Based Sell Off, Barring IT

The broader market indices - Nifty Midcap 100 and Nifty Smallcap 100 - fell around 1 per cent each. Nifty 500, which represents more than 92 per cent of the total free-float of all the NSE-listed stocks, was also down more than 1 per cent.

All major sectoral indices traded in red in early session, barring Nifty IT, which was up by around 0.75 per cent. Nifty Pharma and Nifty Healthcare were trading marginally lower.

Leading the decline, Nifty PSU Bank fell 2.60 per cent, while Nifty Private Bank lost 1.45 per cent.

Nifty Bank also slipped around 1.80 per cent to 52,700 level.

Other sectoral indices like auto, financial services, FMCG, metal, realty, consumer durables, and oil & gas were also in the negative territory.

This is a developing story...