SENSEX crashes 1,235 pts to 7-month low amid massive selling in heavyweight stocks

Benchmark SENSEX tanked 1,235 points to settle at more than seven-month low due to an across-the-board selloff triggered by global trade war worries after US President Donald Trump announced tariffs on neighbouring countries on his inauguration day.

The 30-share BSE SENSEX plummeted 1,235.08 points or 1.60% to settle at 75,838.36 dragged by losses in ICICI Bank and Reliance Industries. During the day, the BSE benchmark plummeted 1,431.57 points or 1.85% to hit an intraday low of 75,641.87.

The broader NIFTY50 plunged 320.10 points or 1.37% to close at 23,024.65. In the intraday trade, the NSE Nifty plunged 367.9 points or 1.57% to 22,976.85.

Among SENSEX shares, Zomato, NTPC, Adani Ports, ICICI Bank, State Bank of India, Reliance Industries, Mahindra & Mahindra, Bajaj Finance, Tech Mahindra and Axis Bank were the major laggards.

UltraTech Cement and HCL Technologies were the only gainers.

European markets were trading higher on Tuesday.

In Asian markets, Tokyo and Hong Kong ended higher, while Shanghai and Seoul settled on a flat note on Tuesday. US markets were closed on Monday on the occasion of Martin Luther King Jr Day.

Global oil benchmark Brent crude slipped 0.76% to $79.54 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,336.54 crore on Monday, according to exchange data.

On Monday, the 30-share BSE Sensex jumped 454.11 points to settle at 77,073.44 and NSE Nifty climbed 141.55 points to close at 23,344.75.