Sensex tanks over 600 points, Nifty tumbles to 10,817.60: Sensex on Tuesday tanked 642.22 points to 36,481.09 while Nifty tumbled 185.90 points to 10,817.60, reports said. The reports said that the Indian market indices remained under pressure following the possibility of rising crude oils in the wake of a drone attack on Saudi Arabian oil facilities and falling of India rupee to 71.88 against the US dollar. While Vedanta, GAIL, Titan, Asian Paints, and Yes Bank showed some marginal gains, the Hero MotoCorp, Axis Bank, Maruti Suzuki, State Bank of India and IndusInd Bank were among the top losers.
Apart from that, the data compiled by the National Securities Depository said that the foreign investor sold shares worth Rs 2,428 crore, which resulted in the weak investor sentiment.
The NDTV quoted Sumeet Bagadia, executive director at Choice Broking saying that the Nifty can further go down to 10,800-10,750 levels and Bank Nifty can fall to 27,000-26,800 levels after some more corrections.
Apart from the rising crude oils, weakness of rupee against the US dollar, he said the weakness in index heavyweights like HDFC and HDFC Bank should also be blamed for the market fall.