Sensex down over 300 points as Nifty slips below 24,000
Business
Indian stock markets had a rough Monday, snapping their two-day winning streak.
Sensex fell by more than 300 points and Nifty slipped below the 24,000 mark.
Nearly twice as many stocks fell as rose on the BSE, and India's fear index (VIX) jumped 5%, showing investors are feeling pretty cautious right now.
Banks drag Bank Nifty below 58,000
Banking stocks took a big hit, dragging Bank Nifty below 58,000. In contrast, pharma and metal stocks managed to hold up. Metal shares even ended their losing streak.
Top gainers included Dr Reddy's, Max Healthcare, and Trent; meanwhile Kotak Mahindra Bank, M&M, and IndiGo were among the biggest losers.
Broader markets weren't spared either: market breadth was weak, with decliners outnumbering advancers nearly two-to-one on the BSE.