Sensex down 296 points, Nifty falls below 11,600 level

Mumbai: Equity benchmark indices plunged after opening on a flat note in Monday’s morning trade despite good corporate results last week.

At 10:15 am, the BSE S&P Sensex was down 296 points at 38,844 while the NSE Nifty 50 fell 102 points to 11,651.
All sectoral indices were in the red except IT with realty losing 2.13 percent and public sector banks 1.31 percent.

Among stocks, Bharat Petroleum was down 4.7 percent, Indian Oil 3.4 percent, Indiabulls Housing Finance and Yes Bank both nearly 3 percent. Heavyweight Reliance Industries too was down by 2.3 percent.

However, Power Grid, Tata Consultancy Services, Wipro, Tech Mahindra, and HCL Tech showed marginal gains.

Meanwhile, Asian equity markets were subdued as investors awaited the resumption of trading in major centers from the Good Friday holiday.