Sensex tanks over 400 pts on global selloff

TIL Desk/Business/Mumbai/ Domestic equity benchmark BSE Sensex cracked over 400 points in early trade Monday dragged by losses in HDFC twins, L&T and RIL stocks, amid heavy selloff in global equities.

The 30-share index was trading 405.67 points, or 1.03 per cent, lower at 39,107.72 at 0930 hours. Similarly, the broader Nifty sank 128 points, or 1.08 per cent, to 11,683.15.

Top losers in the Sensex pack included Hero MotoCorp, L&T, Maruti, Bajaj Auto, M&M, Tata Motors and HUL, falling up to 3.44 per cent.

While, Yes Bank, HCL Tech, Sun Pharma, Infosys, ITC, Vedanta and PowerGrid were among the gainers, rising up to 6 per cent.

In the previous session, the 30-share gauge finished 394.67 points, or 0.99 per cent, lower at 39,513.39, and the Nifty sank 135.60 points or 1.14 per cent, to 11,811.15, after the Union Budget proposal to raise public shareholding threshold fanned fears of oversupply of new papers in an already overbought market.